IMF chief Christine Lagarde under investigation by French court August 27, 2014 International Monetary Fund managing director Christine Lagarde has been put under formal investigation on suspicion of "simple negligence" by a French court. Lagarde was questioned for 15 hours on Tuesday by the Court of Justice of the Republic over her involvement in a long-running political fraud case involving controversial French businessman Bernard Tapie, who was awarded [...]
Sarkozy faces corruption probe July 2, 2014 French ex-President Nicolas Sarkozy was put under formal investigation yesterday, on suspicion he tried to use his influence by offering a judge a plum job in return for information about a probe into his 2007 election campaign. The step, which often leads to trial, is a blow to Sarkozy, who denies wrongdoing and had hoped [...]
Sarkozy held by French police July 1, 2014 Nicolas Sarkozy yesterday became the first former French President to be held in police custody, when he turned himself in for questioning in a corruption probe that could scupper his plans of making a political return. Police are trying to establish whether he promised a plum job in Monaco to a judge in return for [...]
Hollande hit by National Front gains in France March 31, 2014 FRENCH President Francois Hollande suffered a humiliating blow in yesterday’s local elections, as his ruling Socialist party lost out to both its mainstream right-wing rival and to the National Front (FN). Results last night showed Marine Le Pen’s anti-immigration FN had added 10 town halls to its victory last week in Henin-Beaumont, while over 100 [...]
What the other papers say this morning – 06 March 2014 March 5, 2014 FINANCIAL TIMES Church defends hedge fund plan The man responsible for the Church of England’s £6bn endowment has defended plans to increase its investment in hedge funds, arguing that not all of the industry has “devil’s horns”. Andreas Whittam Smith, first church estates commissioner, told the Financial Times that the Church’s own ethical watchdog sanctioned [...]
Blatter blames political leaders for influencing Qatar Cup vote September 18, 2013 QATAR’S controversial bid to host the 2022 World Cup succeeded because European politicians leant on their football administrators, according to Fifa president Sepp Blatter. Scrutiny of the decision to award the game’s biggest spectacle to the tiny Gulf nation has intensified amid discussions about switching the tournament from summer to winter to avoid searing heat. [...]
Forget Italy: Fiscal union is unlikely to mend the euro’s defective heart February 27, 2013 WHEN the European Central Bank announced last year that it would do “whatever it takes” to save the euro, many assumed the crisis was over. This week’s Italian election has already shown that an unexpected event could easily throw off balance Europe’s preferred solution. But there is a more important issue at stake. The Eurozone [...]
Hollande hit in by-elections December 17, 2012 France’s opposition conservative party won three by-elections yesterday despite its own internal problems, in the latest sign of trouble for Socialist President Francois Hollande. The UMP won a hat-trick of by-elections, including a seat previously held by the ruling Socialist party. “These elections constitute a setback for the government which has reacted so badly to [...]
Unemployment in France rises to 14-year peak November 27, 2012 FRENCH unemployment rocketed to a 14-year high in November, data out yesterday revealed, as the Eurozone’s second biggest economy struggles to deal with the continent’s debt crisis and a sclerotic labour market. The number out of work increased 45,400 in November, the 18th consecutive rise, bringing the total to 3.1m – the highest level since [...]
French downgrade wasn’t unexpected November 21, 2012 MOODY’S downgrade of France this week was hardly a surprise. Although blamed on the risk of Greece leaving the Eurozone, France’s structural challenges – its declining competitiveness, high unemployment, public debt and market rigidity – have long been worsening. The Eurozone crisis has only highlighted a more gradual decline in the country’s ability to compete [...]