President Francois Hollande has sought to defray voter angst about rising taxes and spending cuts by predicting that France’s economic recovery is now at hand. Problem is, that rebound is nowhere in sight.
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.
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.
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.
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.