The euro area needs a central government authority with the power to take decisions free of influence from German political institutions, said a report by a group of French scholars, economists and political thinkers.
A top lobbyist for France’s largest bank says European lawmakers will have only themselves to blame if pressure to bolster capital too quickly results in more Boeing Co. planes at the expense of European rival Airbus SAS.
The global economic expansion is speeding up, data this week are projected to show. In the U.S., a gain in fourth-quarter gross domestic product probably completed the strongest six months of growth in almost two years for the world’s largest economy. The pickup combined with progress in the labor market means Federal Reserve policy makers meeting this week may ease up again on the monetary accelerator.
President Nicolas Sarkozy is struggling to convince investors he can cut France’s budget gap amid concern about the spread of Europe’s debt crisis, even as the government’s deficit narrowed for a third month in April.
France sold 7.5 billion euros ($9.55 billion) in debt today, with two- and five-year borrowing costs falling to record lows after President Francois Hollande vowed to boost growth and cut debt over his term.