Arbitrators appointed by the Spanish government are considering claims that might leave rescued lenders Bankia SA, NCG Banco and Catalunya Banc liable to pay compensation to individual investors who bought as much as 3.1 billion euros ($4.3 billion) of junior debt.
Italian Prime Minister Mario Monti said the European Central Bank’s bond-buying plan reduced the stigma of asking for aid, as he followed Spanish counterpart Mariano Rajoy in resisting tapping the bailout program.
President Francois Hollande’s government drew from a well-worn French playbook this week when it threatened to block job cuts at Alcatel-Lucent SA. It’s a game plan that almost always ends with firings happening anyway.
French President Francois Hollande, bogged down by revelations of an affair with an actress, must keep his country focused on the economy rather than on his personal life, pollsters and political analysts said.
Basque terror group ETA’s move to lay down its arms prompted a “restrained” welcome from Spanish Prime Minister Jose Luis Rodriguez Zapatero as opposition leader Mariano Rajoy called for proof that the group is disbanding.
PSA Peugeot Citroen’s decision to close a factory and cut an additional 8,000 jobs is unacceptable, President Francois Hollande said, pledging to lean on Europe’s second-biggest carmaker to renegotiate the plan.