Paris: French President Nicolas Sarkozy on Tuesday said that he welcomed a decision by India's government to enter into "exclusive negotiations" with France's Dassault for the purchase of 126 Rafale jet fighter planes. In a statement, Sarkozy said talks over the contract would begin shortly, adding that the deal would include significant transfers of technology guaranteed by the French state. Dassault Aviation confirmed earlier that its fighter plane had been...
01:29 AM, Feb 01, 2012
European leaders reached a new deal on Friday to try and resolve the Eurozone debt crisis without UK's approval. ...
08:57 AM, Dec 10, 2011
Brussels: European Union leaders sealed a new fiscal pact ensuring tougher budget discipline but failed to agree on a treaty change to enshrine the rules, meaning a deal may now involve the 17 euro zone nations plus any others that want to join, diplomats said. An agreement involving all 27 EU members fell through - raising the prospect of a two-speed Europe - after British Prime Minister David Cameron demanded...
11:34 AM, Dec 09, 2011
At the two day summit in Brussels, French President Nicolas Sarkozy and German Chancellor Angela Merkel have called for treaty changes including tighter budgetary rules and deficit caps. ...
07:56 AM, Dec 09, 2011
Brussels: European leaders are wrestling over how much of their sovereignty they are willing to give up in a desperate attempt to save the ambitious project of continental unity that grew from the ashes of World War II. At stake at the summit in Brussels, which began on Thursday evening, is not only the future of the euro, but also the stability of the global financial system and the balance...
07:46 AM, Dec 09, 2011
New York: Standard & Poor's has warned it may carry out an unprecedented mass downgrade of euro zone countries if EU leaders fail to deliver a convincing agreement on how to solve the region's debt crisis in a summit on Friday. The ratings agency's threat to downgrade 15 countries all the way up to AAA-rated Germany and France came hard on the heels of a Franco-German initiative, to be discussed...
11:28 AM, Dec 06, 2011
Paris: The leaders of France and Germany will voice their support for new Italian Prime Minister Mario Monti at a tripartite meeting on Thursday, seeking to stem the risk of the debt crisis gripping the heart of the euro zone. The talks hosted by French President Nicolas Sarkozy in the eastern city of Strasbourg are due to discuss the reforms planned by former EU commissioner Monti to restore confidence in...
08:48 AM, Nov 24, 2011
Paris: Former IMF chief Dominique Strauss-Kahn, who was tipped as France's next president before a US sex assault scandal spelled his downfall, is suing a top French newspaper, several magazines and a government adviser over reports about him. Lawyers acting on behalf of Strauss-Kahn and his wife Anne Sinclair, a former TV star and art heiress, said on Tuesday they were pursuing the daily Le Figaro, four weekly magazines and...
04:17 AM, Nov 23, 2011
Paris: The interest rate France pays to borrow money rose again on Monday and along with it fears that the country will lose its cherished AAA credit rating. Theoretically at least, that rating is the highest a nation can have, allows France to borrow money from the markets cheaply. But France pays more than nearly every country that has a Triple A rating from all three of the major ratings...
02:22 AM, Nov 15, 2011
Brussels: German and French officials have discussed plans for a radical overhaul of the European Union that would involve establishing a more integrated and potentially smaller euro zone, EU sources say. French President Nicolas Sarkozy gave some flavour of his thinking during an address to students in the eastern French city of Strasbourg on Tuesday, when he said a two-speed Europe, the euro zone moving ahead more rapidly than all...
02:02 AM, Nov 10, 2011
Cannes: The threat of a Greek exit from the euro zone hung over a meeting of G20 leaders on Thursday after France and Germany made it clear that Athens must decide urgently whether it wants to stay in the 12-year-old currency bloc. The summit on the French Riviera had been meant to focus on reforms of the global monetary system and steps to rein in speculative capital flows, but a...
09:27 AM, Nov 03, 2011
Paris: French President Nicolas Sarkozy has defended the hard-fought European bailout plan for Greece as the only way possible to resolve its debt crisis, while bemoaning Greece's bombshell decision to put the plan to a referendum. Sarkozy is scrambling to save Europe's face before he hosts leaders of the Group of 20 major world economies on the French Riviera later this week. His ability to convince foreign leaders of Europe's...
10:12 AM, Nov 02, 2011
Paris: French President Nicolas Sarkozy and German Chancellor Angela Merkel will hold an emergency meeting with Greece on Wednesday to push for a quick implementation of Athens' bailout deal, the 'only solution' to its debt crisis, Sarkozy said on Tuesday. Markets tumbled across Europe in response to the announcement by the Greek government to hold a referendum on the agreement which is expected to take place in a few weeks....
10:03 AM, Nov 02, 2011
Paris: French President Nicolas Sarkozy has defended the hard-fought European bailout plan for Greece as the only way possible to resolve its debt crisis, while bemoaning Greece's bombshell decision to put the plan to a referendum. Sarkozy is scrambling to save Europe's face before he hosts leaders of the Group of 20 major world economies on the French Riviera later this week. His ability to convince foreign leaders of Europe's...
03:10 AM, Nov 02, 2011
Brussels: EU finance ministers outlined a deal on Saturday for recapitalising European banks, and the leaders of Germany and France said they hoped for a breakthrough in tackling the euro zone debt crisis at a summit on Wednesday. After nearly 10 hours of talks, finance ministers overcame strong opposition from Spain, Italy and Portugal and agreed on the need to inject around 100 billion euros into European banks to protect...
10:02 AM, Oct 23, 2011
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