French Banks’ Trading Assets Create ‘Systemic Risk’
The investment banking units of BNP Paribas, Société Générale, Credit Agricole and Natixis hold 2.05 trillion euros ($2.64 trillion) in trading assets.
France Boosts Taxes on Wealthy and Large Companies
President Francois Hollande’s 2013 budget for France relies on tax increases on the wealthy and on large companies to help cut the country’s deficit, rather than spending cuts.
French Cabinet OKs EU Fiscal Pact
The pact faces opposition from a public tired of austerity and members of President Francois Hollande’s coalition government who oppose its measures.
Downgrades of France, Others Irrelevant: Investors
Ratings agencies suffer from a credibility problem, judging from market reactions to some of their most dramatic moves.
In France, Little Sympathy for Luxury CEO
Much of public opinion seems to be lining up behind President Francois Hollande's declaration that it's patriotic to pay taxes, despite previous voices of dissent.
Hollande Calls for ‘Patriotism’ From Luxury CEO
LVMH CEO Bernard Arnault, for his part, said he would continue to pay French taxes after filing for Belgian citizenship.
Eurozone Confidence Falls
Economists were more optimistic than businesses and consumers in the eurozone, as figures show economic confidence reached its lowest level in three years.
Greece Must Stay in Eurozone: Hollande, Merkel
After meeting with Prime Minister Samaras of Greece on Saturday, President Hollande of France reiterated that Greece must remain in the eurozone—echoing the words of the German chancellor, Angela Merkel, the day before.
Germany Doubles Down on Greece
German officials seem to be backing away from earlier hints that leniency would be possible toward Greece on complying with the budget constraints of its bailout package.
Germany, France Discuss United Front Against Lenience for Greece
Despite Greece's attempt to win additional time to comply with bailout conditions, Chancellor Merkel of Germany and President Hollande of France were discussing ways to send a firm message that Athens must adhere to its original conditions.