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Saturday, May 25, 2024

Merkel faces showdown with Hollande over eurozone crisis

Merkel faces showdown with Hollande over eurozone crisis(France) – German Chancellor Angela Merkel, faces showdown with the new French president over crisis in the eurozone, as Greek brinkmanship raises a risk of break-up.
Hollande rode to victory in France on a platform of bolstering growth as a way out of the debt crisis, setting him up for a showdown with Merkel, who has championed austerity as the best way forward for the 17-nation eurozone.
And despite defeat in election in Germany’s key state of North Rhine-Westphalia, she has insisted her Europe policy “was not affected and there was no conflict between solid budgetary policy and growth”.
While both sides have observed the diplomatic niceties ahead of the meeting, with Merkel saying she would welcome Hollande “with open arms”, the two leaders are on a collision course over the German-inspired EU fiscal pact.

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