World News Insights
1-3 Minute Gist

All Topics Article

Hollande fires warning shot at Merkel over austerity on eve of EU summit | World news | guardian.co.uk

The Guardian Original article ›

Keywords:

LyrArc Article Gist
President Hollande of France is interviewed by Sylvia Kauffman of Le Monde, Angelique Chrisafis of The Guardian, Berna Gonzalez Harbour of El Pais, Jaroslaw Kurski of Gazeta Wyborcza, Alberto Mattioli of La Stampa, et Stefan Ulrich of Suddeutsche Zeitung in mid-October 2012. He tells the reporters that France is the bridge between northern and southern Europe and says he is against division, rancor and the idea of 'each for one's own.' He called recession being as big a threat as deficits and emphasized the need for growth. Hollande pointed out that it was false to say Germany was the only country paying to help, that France was also paying for the solidarity with other eurozone countries. From now on he sees the need for monthly meetings of eurozone countries as opposed to crisis driven meetings which have failed to produce results needed and led to procrastination and political maneouvring. On Merkel's side there is internal politics and parliament which has affected decisions in in the interests of the eurozone and the EU, which he said he respects but which also requires putting the interests of Europe first. On specifics Hollane sees no need to further delay action on direct aid by the European Stability Mechanism to Spanish banks and efforts to bring down Spain and Italy's borrowing rates, and calls the gap between France and Germany's borrowing rates of 1% and Spain and Italy's 7% "unfair."

Interview by the Guardian and five other European newspapers with president Hollande of France in mid-October 2012

06/21/2011

Hollande expresses his disappointment with the actions of chancellor Merkel of Germany in not supporting direct aid to Spain's banks by the European Stability Mechanism fund as agreed in June and helping lower the borrowing rates of Spain and Italy. He calls it unfair that France and Germany can borrow at 1% and Spain and Italy have to borrow at 7%. He also says Greece should not be subject to perpetual punishment after coming this far. It is Hollande's boldest effort to articulate France's frustration with Merkel's following domestic opinion in framing policy for the eurozone and delves into the many issues.

Grouped Articles

Year Into Hollande Presidency, ‘a Sense of Drift’

New York Times 05/04/2013

EU Dismisses IMF's Criticism On Greek Bailout

Wall Street Journal 06/07/2013

Policy ‘Troika’ for Europe Financial Woes at Odds

New York Times 06/07/2013

France Says It Will Miss Budget Deficit Targets

Wall Street Journal 09/12/2013

In Race to French Presidency, Hollande Sets His Own Pace

New York Times 05/05/2012

Hollande fires warning shot at Merkel over austerity on eve of EU summit | World news | guardian.co.uk

The Guardian 10/17/2012


Support LyrArc

We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.

Support Lyrarc from as small as $1


Copyright © 2006 - 2026 Intelilinks LLC
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us