Arab Today, arab today france italy join hands over eurozone crisis
Last Updated : GMT 14:02:48
Arab Today, arab today
Arab Today, arab today

France, Italy join hands over eurozone crisis

Arab Today, arab today

Arab Today, arab today France, Italy join hands over eurozone crisis

Paris - AFP

France and Italy presented a united front Wednesday on the eurozone debt crisis amid deepening divisions over belt-tightening policies in the European Union as some countries reach breaking point. French President Francois Hollande met Italy's brand new Prime Minister Enrico Letta, in Paris only days after he took office, and warned that austerity alone was "no longer enough", stressing the need for a focus on growth. "If one doesn't notice that Europe equates to well-being, opportunities, growth; if one considers that Europe is a bad mother, this will become a big democratic problem because citizens will react against this bad European mother," Letta told reporters after the talks. "Europe must help people, it must not frustrate them." Hollande, meanwhile, said that "what is at stake is not only the European concept but political stability in our respective countries." The comments come as divisions over how the eurozone should tackle its debt crisis deepen, with growing calls for a refocus on growth and an easing of the spending cuts championed by Germany and its allies. The International Monetary Fund changed tack last month and warned that the eurozone could become trapped in a destructive, downward spiral if it did not refocus on growth. Spain last week secured an extra two years to meet European targets on the size of its budget deficit, after warning that an economy in which more than one in four of the workforce is unemployed could not withstand more pain. Letta, who took office earlier this week after a two-month stalemate following Italy's inconclusive February elections, also looks set to take a similar line with promises to focus on measures to kickstart the economy. France, meanwhile, has seen its ties with Germany cool as the two countries struggle to see eye-to-eye over austerity -- a rift that came to light Friday when Hollande's Socialist Party accused Chancellor Angela Merkel of "selfish intransigence" in a leaked document. Undaunted, Merkel has stayed firm, telling Letta on Tuesday that she did not think budgetary discipline and the goal of economic growth were incompatible as he made a lightning visit to Germany. Hollande on Wednesday said a compromise could be found "beyond what separates us, or beyond the different situations of for instance Germany, France and Italy". But he sought to allay fears of a broader rift with Germany, saying the two countries must "work together whatever the situation, whoever the individuals who manage it are and whatever the sensitivities". Letta, meanwhile, said his country would stick to budget promises made to the European Union, and called for the prompt establishment of a single European banking union to facilitate growth. EU leaders in December agreed in principle on a banking union with its first component, a single supervisory mechanism, to be launched in March 2014. The two other pillars of the banking union will include a bank deposit guarantee scheme and the establishment of a mechanism for dismantling failed banks. "The banking union ... is there, we decided on it, we must set it up, we must not lose any time in doing so," he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today france italy join hands over eurozone crisis Arab Today, arab today france italy join hands over eurozone crisis

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today france italy join hands over eurozone crisis Arab Today, arab today france italy join hands over eurozone crisis

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Ryanair's O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

Ryanair's O'Leary: Could ground more planes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday