Following is a timeline of the key steps on the road to the euro currency, from the Bretton Woods conference in 1944 to last week’s agreement to set up a “fiscal compact” among countries using the single currency.
On the evening of Oct. 19, as Claudio Abbado conducted the overture to Rossini’s “The Barber of Seville” at Frankfurt’s Old Opera House, members of Europe’s policy elite were in a backroom discussing haircuts.
A Greek heiress is fighting a legal battle in Switzerland to find out what has become of a collection of Picasso, Van Gogh, Renoir, Monet, Cezanne and Degas art that she says should be part of her inheritance.
German Chancellor Angela Merkel and French President Nicolas Sarkozy have never held hands as Helmut Kohl and Francois Mitterrand once did at a World War I battlefield. Merkel worries they don’t even talk enough.
Keeping former President Nicolas Sarkozy in style costs the French taxpayer more than 2 million euros ($2.6 million) annually as his successor drags citizens through an unprecedented shrinking of the state budget.
Christine Lagarde , France’s finance minister, was at her Normandy weekend home on Saturday, May 8, juggling calls from President Nicolas Sarkozy , German finance chief Wolfgang Schaeuble and Dominique Strauss-Kahn , the Frenchman atop the International Monetary Fund, Bloomberg Markets reports in its August issue.
Nicolas Sarkozy’s defeat in the French presidential election makes him the first incumbent in more than 30 years to fail to win re-election, and the ninth European leader to be booted out since the region’s debt crisis began.