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.
President Francois Hollande’s government sought to show the European Commission it’s serious about public-spending cuts with its 2014 budget today, after changes to the pension system failed to impress.
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.
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.
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.