debt crisis

In this first part of a wide-ranging exclusive interview with Mediapart, French Prime Minister Jean-Marc pledges his government will do its all to keep the euro alive, argues that a delay should be given to Greece to meet its deficit target and answers mounting criticism that he and President François Hollande have capitulated their pro-growth policies with the adoption, without any compromise, of the austerity-promoting European Treaty on Stability, Cooperation and Governance, the TSCG. The French Prime Minister, in an interview conducted in French and translated here into English, calls on the treaty’s opponents to come clean that they want to leave the euro, and claims the election of President Hollande has announced a re-orientation of European policy-making. “I am convinced there has been an enormous degree of political weakness and lack of vision since the start of the crisis,” he comments, adding that European leaders are “beginning to be conscious of the major risks into which we will be plunged if Greece leaves the euro.”

Following the creation of an independent Greece in 1830, the country’s administration has been significantly shaped by European models, while its cultural, religious and historical heritage, along with its geographical situation, have given the country, the first European state to have emerged from the Ottoman Empire, an exceptional political and economic destiny. In this interview with Joseph Confavreux, Geneva-based historian Dimitri Skopelitis offers a historical insight into the nature of the current turmoil in Greece, tottering on the brink of bankruptcy, its future within the European Union still uncertain, and the complex relationship between the population and the State.

Two major speeches in two days supposed to highlight France and Germany's joint determination over eurozone crisis instead highlighted differences.

The French and British leaders held talks to discuss the debt crsisis ahead of a crucial meeting in Brussels next week on the future shape of the EU.

France, Germany and Italy rule out major intervention by the European Central Bank to solve sovereign debt crisis and to prevent renewed recession.

Moody's has warned rising bond yields amplify France's fiscal challenges, endangering the triple-A credit rating of Europe's second-largest economy.

CNN financial writer claims France's problems go beyond its 35-hour work week and efforts to preserve its triple-A credit rating may not be enough.

France and Germany disagree over whether the European Central Bank should intervene more forcefully to halt eurozone's accelerating debt crisis.

France came under further pressure on interbational markets Tuesday amid increasing fears it might sink into the eurozone debt crisis.

Germany and France have discussed plans for a radical EU shakeup, establishing a more integrated and smaller euro zone, reports Reuters.

French NGO Médecins du Monde (MdM), which provides healthcare to the needy across the globe, originally opened its clinic in Athens to provide help for destitute immigrants and asylum seekers. But now the debt crisis has changed all that. Suddenly, its free-of-charges medical centre has seen a dramatic influx of Greek patients, who include public sector workers, former small business owners, young mothers, the elderly and rising numbers of the homeless, all unable to pay standard medical fees. "Some are so ashamed that they speak in English to pass off as migrants," explains Christina Samartzi, head of MdM's programme in Greece, in this interview with Carine Fouteau. "They are desperate, without hope," adds Samartzi, "they think that things are only going to get worse."

In a TV interview Thursday evening, President Sarkozy warned of further budget cuts ahead, and said Greek entry into eurozone was an "error".

French bank shares rose sharply after it emerged they had comparatively small amount to raise to cover their part of the debt crisis lending plan.