News / Europe

France, Germany Call for Boost in European Jobs, Economy

French President Nicolas Sarkozy (R) and German Chancellor Angela Merkel arrive for a news conference following their talks at the Chancellery in Berlin January 9, 2012
French President Nicolas Sarkozy (R) and German Chancellor Angela Merkel arrive for a news conference following their talks at the Chancellery in Berlin January 9, 2012
Lisa Bryant

French and German leaders say growing the economy and creating jobs should be Europe's top priorities for 2012. French President Nicolas Sarkozy and German Chancellor Angela Merkel also defended a controversial proposal to tax financial transactions during a meeting Monday in Berlin.

French and German leaders maintained a solid front on proposals that included more fiscal discipline but also efforts to inject life into the sluggish European economy, create jobs and make Europe more competitive.

In broadcast remarks from a press conference in Berlin, German Chancellor Angela Merkel said France and Germany are determined to solidify the finances of the 17-member eurozone while also relaunching growth.  Their aim is not just to stabilize the euro, she said, but to create a strong, modern and competitive Europe.

Merkel and French President Nicolas Sarkozy also called for injecting more capital into a European bailout fund, for Greece to honor its reform promises and for European leaders to act more swiftly in finding solutions to the debt and banking crisis.

Overseeing Europe's two largest economies, Merkel and Sarkozy have been the driving force in pushing through a new fiscal compact endorsed by most European Union countries in December. Britain is the only country that clearly bowed out of the deal.

The French and German leaders said they hoped the details of the pact will be in place this month and that it will be signed by March 1.

Analyst Laurent Maruani, of the HEC business school in Paris, said the two heads of state are determined to present a unified front.

"Now that they have been pulling and pushing Europe in all directions, they cannot step back. Stepping back would be a disaster for them," said Maruani.

Merkel and Sarkozy also endorsed a controversial idea to tax financial transactions that Sarkozy has vowed to push through alone if he does not get support from other EU members.

The French president said those financial players responsible for getting the eurozone into its current crisis also should pay for getting it out.  If France does not push through the tax, he said, the idea may never be realized.

Europe's sovereign debt and banking crisis dominated the EU agenda for much of 2011, and it is unlikely to disappear anytime soon.  France and Germany both face threats of a possible downgrade of their debt rating, following similar downgrades of more ailing economies like Spain and Italy.

On Monday, investors bought German short-term debt at negative interest rates for the first time. The euro also has dipped to its lowest value in months compared to the U.S. dollar - another sign of ongoing jitters in the financial markets.


You May Like

US Firms Concerned About China's New Cyber Regulations

New rules would require technology companies doing business in financial sector to hand over their source code, adopt Chinese encryption algorithms More

WHO Focus on Ebola Shifts to Ending Outbreak

Focus to be less on building facilities and more on efforts to find infected people, manage their cases, engage with communities and ensure proper burials More

US Scientist Who Conceived of Groundbreaking Laser Technology Dies

Charles Townes, Nobel laureate, laser co-creator paved way for other scientific discoveries: CDs, eye surgery, metal cutters to name a few technologies that rely on lasers More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Super Bowl Ads Compete for Eyes on TV, Webi
X
January 29, 2015 9:58 AM
Super Bowl Sunday (Feb. 1) is about more than just the NFL's American football championship and big parties to watch the game. Viewers also tune in for the world famous commercials that send Facebook and Twitter abuzz. Daniela Schrier reports on the social media rewards for America’s priciest advertising.
Video

Video Super Bowl Ads Compete for Eyes on TV, Web

Super Bowl Sunday (Feb. 1) is about more than just the NFL's American football championship and big parties to watch the game. Viewers also tune in for the world famous commercials that send Facebook and Twitter abuzz. Daniela Schrier reports on the social media rewards for America’s priciest advertising.
Video

Video Theologians Cast Doubt on Morality of Drone Strikes

In 2006, stirred by photos of U.S. soldiers mistreating Iraqi prisoners, a group of American faith leaders and academics launched the National Religious Campaign Against Torture. It played an important role in getting Congress to investigate, and the president to ban, torture. VOA's Jerome Socolovsky reports.
Video

Video Freedom on Decline Worldwide, Report Says

The state of global freedom declined for the ninth consecutive year in 2014, according to global watchdog Freedom House's annual report released Wednesday. VOA's William Gallo has more.
Video

Video As Ground Shifts, Obama Reviews Middle East Strategy

The death of Saudi Arabia’s king, the collapse of a U.S.-friendly government in Yemen and a problematic relationship with Israel’s leadership are presenting a new set of complications for the Obama administration and its Middle East policy. Not only is the U.S. leader dealing with adversaries in Iran, the Islamic State and al-Qaida, but he is now juggling trouble with traditional allies, as White House correspondent Luis Ramirez reports.
Video

Video MRI Seems to Help Diagnose Prostate Cancer, Preliminary Study Shows

Just as with mammography used to detect breast cancer, there's a lot of controversy about tests used to diagnose prostate cancer. Fortunately, a new study shows doctors may now have a more reliable way to diagnose prostate cancer for high risk patients. More from VOA's Carol Pearson.
Video

Video Smartphones About to Make Leap, Carry Basic Senses

Long-distance communication contains mostly sounds and pictures - for now. But scientists in Britain say they are close to creating additions for our smartphones that will make it possible to send taste, smell and even a basic touch. VOA’s George Putic reports.
Video

Video NASA Monitors Earth’s Vital Signs From Space

The U.S. space agency, NASA, is wrapping up its busiest 12-month period in more than a decade, with three missions launched in 2014 and two this month, one in early January and the fifth scheduled for January 29. As VOA’s Rosanne Skirble reports, the instruments being lifted into orbit are focused on Earth’s vital life support systems and how they are responding to a warmer planet.
Video

Video Saved By a Mistake - an Auschwitz Survivor's Story

Dagmar Lieblova was 14 when she arrived at Auschwitz in December 1943, along with her entire Czech Jewish family. All of them were to die there, but she was able to leave after several months due to a bureaucratic mix-up which saved her life. Now 85, with three children and six grandchildren, she says she has a feeling of victory. This report by Ahmad Wadiei and Farin Assemi, of RFE/RL's Radio Farda is narrated by RFE’s Raymond Furlong.

Circumventing Censorship

An Internet Primer for Healthy Web Habits

As surveillance and censoring technologies advance, so, too, do new tools for your computer or mobile device that help protect your privacy and break through Internet censorship.
More

All About America

AppleAndroid