Investors nervous about European debt

Europe’s major stock exchange indexes lost ground on Monday morning. Investors appear to be honing in on the EU’s debt crisis again, now that Portugal is under pressure to ask Brussels for a bailout. Amsterdam’s AEX index dropped 0.6 percent within the first 45 minutes of trading, while the MidKap index fell 0.3 percent. The exchanges in Paris, Frankfurt and London saw losses of up to 1.2 percent. Both Germany and France are reported... [more]

Sarkozy takes G20 case to Obama as food prices soar

French President Nicolas Sarkozy takes his campaign for greater global food price and currency stability to Washington this week when he seeks Barack Obama’s support for France’s goals as head of the Group of 20 powers. Soaring food prices and riots in places such as Algeria offer Sarkozy ammunition to press for more coordination between G20 governments to combat wild swings in vital commodity prices as well as exchange rates... [more]

Germany denies plan to press Portugal to seek bailout

Germany on Sunday denied a report saying it plans, together with France, to press Portugal to seek a bailout in order to stop Spain and Belgium from becoming the next euro crisis casualties. “It is not the German government’s strategy to force Portugal to call for Europe’s rescue fund,” government spokesman Steffen Seibert told the Handelsblatt daily, refuting an earlier report by German weekly Spiegel. Spiegel had... [more]

Portugal under pressure to seek EU/IMF aid

Pressure is growing on Portugal from Germany, France and other euro zone countries to seek financial help from the EU and IMF to stop the bloc’s debt crisis from spreading, a senior euro zone source said on Sunday. Some preliminary discussions on the possibility of Portugal asking for help if its financing costs on markets become too high have taken place since July, the source said. No formal talks on aid have started yet, a number... [more]

Emergency sitting in Brussels over dioxin scare

European feed suppliers are to meet with the European Commission in Brussels on Monday morning following the discovery of contaminated animal feeds in Germany. The European Commission wants to keep the production and distribution of fatty acids for industrial use and for use in animal feeds more separate from one another. European Commissioner for Health and Consumer Policy John Dalli said on Sunday that the EU needed to take action given... [more]

France’s EDF to sponsor London Eye

British tourist landmark the London Eye is to have a French-owned sponsor, EDF Energy. Owner Merlin Entertainments announced it has awarded EDF naming rights to the famous wheel for the next three years, in a deal estimated by media to be worth about 8 million pounds. The Eye proved so popular it was made a permanent installation and it is visited by around 3.5 million people every year. As part of the deal, the London Eye has agreed to... [more]

France says Sahel region no longer safe

France said the entire Sahel region could no longer be considered safe for its citizens after two Frenchmen were killed in Niger, and on Sunday told its nationals to avoid traveling in the region. The pair were found dead, apparently executed by their kidnappers on Saturday, after French special forces joined a failed attempt to rescue them in the African state. “French nationals should be extremely vigilant and careful at all times,”... [more]

Germany and France want Portugal to accept aid

Germany and France want Portugal to accept an international bailout as soon as possible in order to prevent its debt crisis spreading to other countries, German magazine Der Spiegel reported on Saturday. Without citing its sources, the magazine said government experts from both European heavyweights were concerned Lisbon will soon not be able to finance its debt at reasonable rates, after its borrowing costs rose at the end of last year. Berlin... [more]

Cameron Will Fight To Let Turkey Join EU

David Cameron has declared himself the “strongest possible advocate” of Turkey’s ambition to join the European Union. The Prime Minister, who is visiting the country, hailed it as central to unifying East and West and reducing international security fears. Speaking in the capital, Ankara, Mr Cameron said Turkey’s unique position should see it play a key role in shaping the future of Afghanistan and helping broker... [more]

French Flops Suspended From Next Match

French football bosses have banned all 23 players involved in the country’s World Cup disaster from playing in the friendly against Norway next month. The French Football Federation took the decision on the advice of new coach Laurent Blanc. The country’s World Cup campaign lurched from one disaster to another in South Africa. On the pitch, the 2006 losing finalists failed to progress from the group stages after being unable... [more]

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