Arab Today, arab today france italy spain unite against germany
Last Updated : GMT 11:10:22
Arab Today, arab today
Arab Today, arab today

France, Italy, Spain unite against Germany

Arab Today, arab today

Arab Today, arab today France, Italy, Spain unite against Germany

Brussels - UPI

France supported Italy and Spain against Germany in their demand for immediate borrowing-cost relief as a divided leaders\' summit was to begin its final day. \"We all need Italy and Spain to have lower interest rates today and for Spain\'s banks to be recapitalized because that will bring relief for the eurozone,\" French President Francois Hollande told reporters early Friday as the tense first day of a two-day European Union leaders summit in Brussels broke up after midnight. \"We now need to have a stability policy in order to support the countries that took some efforts [to shore up their public finances],\" Hollande said, referring to Italy and Spain. \"Stability measures should be a priority before any other consideration.\" He said he supported Italy and Spain\'s increasingly dire demand for short-term measures to lower their dangerously high borrowing costs, saying the measures would stabilize the eurozone. Benchmark Italian 10-year bonds, used to set rates on other loans, yielded 6.2 percent Thursday, while comparable Spanish bonds yielded 6.9 percent. The yields represent the costs of government borrowing. Yields near 7 percent are considered by many to be unsustainable. Hollande confirmed Italy and Spain threatened to withhold approval of a flagship $149 billion EU stimulus growth and jobs pact unless eurozone leaders came up with a deal to lower their financing costs. Italian Prime Minister Mario Monti and Spanish Prime Minister and government President Mariano Rajoy asked for eurozone rescue funds and the European Central Bank to intervene more aggressively on financial markets to buy Spanish and Italian bonds, to ease the very high yields the two countries have been forced to pay on their sovereign debt. German Chancellor Angela Merkel -- who rejected their pleas for immediate relief -- canceled her late-night news briefing after telling the 27 EU leaders such an approach threatened to derail the whole summit. \"It became really tense,\" a senior EU official told the Financial Times. \"Everyone thinks it is extremely unlikely they will find a deal on short-term measures.\" Dutch Prime Minister Mark Rutte, who supported Merkel, told reporters the only way Spain and Italy could emerge from the crisis was \"to bite the bullet.\" European Council President Herman Van Rompuy insisted Italy and Spain had not created gridlock. \"There are two countries who are very keen to make sure that there is an agreement, both on the long-term measures and on the short-term measures, but I wouldn\'t say there was any blockage,\" he told a news conference amid reports of summit disarray.

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 spain unite against germany Arab Today, arab today france italy spain unite against germany

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced

GMT 05:29 2017 Tuesday ,21 February

Sovereign funds pulled $38bn from markets in 2016

GMT 05:15 2017 Tuesday ,21 February

Gold firms as markets await Trump tax plans

GMT 04:58 2017 Tuesday ,21 February

EU, IMF in ‘common position’ on Greece crisis
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
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