Arab Today, arab today germany france seek to heal rift in euro unity
Last Updated : GMT 15:58:50
Arab Today, arab today
Arab Today, arab today

Germany, France seek to heal rift in euro unity

Arab Today, arab today

Arab Today, arab today Germany, France seek to heal rift in euro unity

Berlin - AFP

The leaders of France and Germany hold the first major meeting of the year on the euro Monday, as cracks emerge in the strategy to tackle the crisis and markets kept up the pressure on the debt-wracked zone. Chancellor Angela Merkel hosts President Nicolas Sarkozy for talks in Berlin to kick off a flurry of diplomatic activity ahead of a key EU summit on January 30 that leaders hope will provide new impetus to efforts to stem the crisis. However, facing an uphill battle for re-election this year, Sarkozy has thrown a spanner in the works by vowing to introduce a highly controversial tax on financial transactions, on his own if necessary. \"We won\'t wait for others to agree to put it in place, we\'ll do it because we believe in it,\" Sarkozy said on Friday after talks in Paris with Italian Prime Minister Mario Monti. But Monti, who is due in Berlin for talks with Merkel on Wednesday, urged France not to go it alone and Germany also resisted the call, saying it was trying to build a broad consensus for such a levy. \"We would like to see a global financial transaction tax but that is not possible at the present time,\" Merkel\'s spokesman Steffen Seibert told reporters at a regular news briefing. \"The German government would thus aim to introduce the financial transaction tax within the EU,\" he added. Seibert said the tax, which would have to be agreed unanimously within the EU and is fiercely opposed in Britain, was one of several issues on the agenda for the two leaders, together dubbed \"Merkozy\". \"It is mainly about preparing the European summit at the end of January and its goal is to debate measures to boost competitiveness and growth,\" the spokesman said. British Prime Minister David Cameron vowed to block any attempt to introduce an EU-wide financial transaction tax because he said it would harm jobs and prosperity in Europe. And the Association Paris Europlace, which represents key players in the French financial world, said such a tax would hurt the country\'s economy unless it was implemented across the European Union. Analysts say time is running out to hammer out the details of a \"fiscal compact\" agreed in principle in December that would tighten up budgetary discipline for all EU members except Britain, which has opted out. Whatever the outcome of these discussions (between France and Germany), a clear post-crisis landscape ... needs to be mapped out at the forthcoming EU summits,\" said Thomas Harjes from Barclays Capital. \"Without this, the crisis will continue to pose serious risks to the euro area\'s cohesion,\" he added. Adding to the pressure in the run-up to the Berlin meeting was a raft of disappointing economic data from the eurozone, including joblessness hovering at a record high and slumping consumer and business confidence. Meanwhile, the euro tumbled to another 16-month low against the dollar, falling under the $1.27 mark and Italian borrowing costs rose above the seven-percent barrier that many economists consider to be unsustainable. Also on Merkel and Sarkozy\'s plate at the lunchtime meeting is Hungary, after the International Monetary Fund and EU officials broke off talks over a possible credit line due to concerns over the independence of the central bank. The tete-a-tete is the first of a series of high-level meetings to prepare the EU summit on January 30. After Monti\'s visit to Berlin on Wednesday, a three-way France-Germany-Italy summit will take place in Rome on January 20, three days before a key meeting of eurozone finance ministers in Brussels.  

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 germany france seek to heal rift in euro unity Arab Today, arab today germany france seek to heal rift in euro unity

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
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 Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
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 Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
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