debt

Jean-Marc Ayrault has called on the French people to rally behind the government to tackle a "crushing" and "unprecedented" debt crisis.

Prime minister has announced plans to reduce staff numbers in most government ministries by 2.5 percent per year over the next three years.

The country must find up to €10bn of savings to bring its budget deficit under control this year, finance minister Pierre Moscovici has said.

French banks, among lenders the most exposed to Greek debt, are reportedly steping up planning for the debt-laden country leaving the euro zone.

Spread in rate of return on French and German government bonds has risen to record high as investors snapped up Berlin's debt amid eurozone turmoil.

Germany and France rule out common eurozone bonds to solve the current debt crisis, in spite of pressure ahead of Merkel-Sarkozy meeting.

The view from 'down under' on what The Australian's foreign news editor sees as the 'wretched failure' of riot-torn, debt-ridden Europe.

French banks propose plan to reinvest half the proceeds from maturing Greek government bonds ahead of key Rome meeting on the crisis.