Arab Today, arab today french finance chief warns against greek euro exit
Last Updated : GMT 04:13:36
Arab Today, arab today
Arab Today, arab today

French finance chief warns against Greek euro exit

Arab Today, arab today

Arab Today, arab today French finance chief warns against Greek euro exit

Paris - AFP

Greece\'s exit from the eurozone risks causing an \"unpredictable\" spread of the debt crisis, a scenario which France will work to avoid at all cost, French Finance Minister Pierre Moscovici said Tuesday. \"Everything must be done to help pro-European and pro-euro forces in Greece,\" ahead of repeat elections due next month, Moscovici told AFP, citing \"measures to boost growth and give back hope to the Greek people\". Moscovici was also confident that Paris and Berlin would find compromises on a string of French proposals to revive economic growth in Europe even though both capitals currently disagree on eurobonds. \"Compromises are possible, notably on boosting the capital of the European Investment Bank, the mobilisation of unused structural funds and the creation of a European tax on financial transactions,\" he said after talks Monday with German counterpart Wolfgang Schaeuble in Berlin. Moscovici said he and Schaeuble had found \"a common language\" to face the current crisis. \"Wolfgang Schaeuble\'s talk was very positive,\" he said on the plane back to Paris. However Moscovici still cited \"major disagreement\" between Paris and Berlin on eurobonds, which would allow embattled governments to borrow from financial markets more easily by having their debt guaranteed by fellow EU members. German Chancellor Angela Merkel has adopted a hard line against eurobonds, arguing that Germany -- Europe\'s largest economy and the state with the lowest borrowing costs -- would pick up the tab if eurozone debt were pooled. With new elections looming in Greece on June 17 and Spain\'s crippling recession showing no sign of abating, the eurozone crisis dominated the talks between Schaeuble and his new French counterpart. \"We agreed that we have to do everything to keep Greece in the euro club,\" Schaeuble told a joint press conference. \"We both believe that Greece has its place in the eurozone,\" Moscovici said, adding that \"the commitments undertaken had to be respected\" in reference to reforms demanded in return for huge bailout packages. Europe has to support investment and economic growth in Greece \"at a time when it is going through a violent recession\", the French minister added. The pair sought to present a united front ahead of a summit of EU leaders on Wednesday in Brussels, after a weekend G8 meeting left Berlin looking increasingly isolated with its austerity-driven solution to the crisis. Moscovici said that new French President Francois Hollande, who last week met Merkel just hours after his inauguration, wanted to \"put everything on the table, even topics that not everyone agreed on.\" Eurobonds are a \"strong idea,\" he said. He stressed Europe had to come up with concrete results by a June summit. Schaeuble said Germany \"would participate in all constructive ideas to strengthen sustainable growth\" but cautioned that budgetary consolidation was \"a necessary precondition.\" Moscovici also insisted that France would play its part in reducing its own budget deficits, pledging: \"The commitments made by President Francois Hollande during his campaign on public finances will be kept to.\" France aims to reduce its deficit to below the EU limit of three percent of gross domestic product by next year and balance its budget by 2017. In a reminder that the crisis was not limited to Greece, Spanish Economy Minister Luis de Guindos predicted that his country\'s economy, already mired in recession with record-high unemployment, would shrink again in the second quarter.

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 french finance chief warns against greek euro exit Arab Today, arab today french finance chief warns against greek euro exit

 



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 french finance chief warns against greek euro exit Arab Today, arab today french finance chief warns against greek euro exit

 



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 US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
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 Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat
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 Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

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