The cost of insuring against a catastrophic US default jumped to its highest level in more than two years today after talks to prevent a breach of the nation’s $16.7 trillion (£10.5 trillion) debt ceiling faltered.
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Thursday 18 November 2010
When it comes to bewildering financial crises it is usually best to start with the crisp wisdom of Nouriel Roubini, the man who called the credit crunch right. Mr Roubini said this week, bluntly, that Ireland is "on a path to near or complete insolvency". In response, Irish ministers bleat that "we're fully funded until mid-2011". Big deal. If you'd lent someone money to buy a house and they'd said that they were OK for cash until next summer, but after that things might get a bit hairy, how reassured would you be?
Monday 15 November 2010
President Nicolas Sarkozy last night announced a new government largely restricted to his own tribe of the centre-right, abandoning his policy of "ouverture" to the left, centre and racial minorities.
Wednesday 27 October 2010
Oil refinery strikes in France against an unpopular pension reform lost steam yesterday, with walkouts ending at several plants and unions sounding keener on talks with employers than pursuing the showdown.
Monday 18 October 2010
French truck drivers said they planned to block key roads from yesterday evening and rail unions announced new strikes from today, putting fresh pressure on President Nicolas Sarkozy over his unpopular pension reforms.
Sunday 15 August 2010
Monday 21 June 2010
The president of France, Nicolas Sarkozy, has asked his sports minister Roselyne Bachelot to meet with the key people involved in the bitter national team row which has wrecked their World Cup chances.
Saturday 05 June 2010
Saturday 22 May 2010
Europe's governments struggled to mask sharp differences yesterday even as they backed new sanctions for indebted countries in the battle to prevent a debt crisis from spiralling into an emergency that threatens the very survival of the euro.
Friday 21 May 2010
There is no word for "grandeur" in English. That's what we're up against over here. They have Versailles, we have Buckingham Palace. They have the Louvre, we have the National Gallery. They have the Elysée Palace, we have Downing Street. They have Christine Lagarde, we have (to cheat a bit) Vince Cable.
Thursday 06 May 2010
Société Généerale announced forecast-beating net profits of €1.1bn (£940m) for the first-quarter yesterday, helped by its investment banking division and fewer provisions on bad loans. The French banking giant said it anticipated a "sustainable rebound" this year and was "confident" that it could meet profits forecasts of €3bn for 2010.
Wednesday 14 April 2010
The Greek rescue package passed its first test easily yesterday when the latest auction of that country's government debt was heavily oversubscribed.
Thursday 01 April 2010
Monday 22 March 2010
Thursday 17 December 2009
Monday 05 October 2009
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