The European Commission approved France’s bank rescue plans Monday after changing its rules for state bank aid, ending a weeks-long stand-off between Paris and Brussels. The 40-billion-euro French bank recapitalisation plan can now go ahead, with 10.5 billion euros already set aside for the country’s six biggest banks.
2008-12-08 16:04 TU
France's economy contracted by 0.3 per cent in the second quarter of 2008, prompting Finance Minister Christine Lagarde to say that it is too early to talk about recession. The eurozone's other two big economies, Germany and Italy, also suffered negative growth, while the UK, Spain and Austria had bad economic news.
2008-08-14 15:02 TU