Merkel Outflanked in Crisis Summit as Hollande Backs Italy-Spain - Bloomberg: "French President Francois Hollande led a rebellion against Germany’s prescriptions for dealing with the debt crisis, rattling Europe’s political system with demands for immediate relief for hard-hit countries.
Hollande put French endorsement of a German-inspired deficit-control treaty on hold, and Italy and Spain withheld approval of a 120 billion-euro ($149 billion) growth-boosting package unless Germany authorizes steps to calm their bond markets.
By provoking an open breach with German Chancellor Angela Merkel, the new French leader overturned the austerity-first consensus that has dominated the debt-crisis response and risked fracturing the Berlin-Paris alliance that built the European Union and euro.
“We now need to have a stability policy in order to support the countries that took some efforts,” Hollande told reporters early today at a summit in Brussels, the 19th since the crisis erupted. “Stability measures should be a priority before any other consideration.”"
BBC Sport - Germany 1-2 Italy: "Mario Balotelli secured Italy a place in the Euro 2012 final against Spain as his goals defeated Germany in Warsaw."
Hollande put French endorsement of a German-inspired deficit-control treaty on hold, and Italy and Spain withheld approval of a 120 billion-euro ($149 billion) growth-boosting package unless Germany authorizes steps to calm their bond markets.
By provoking an open breach with German Chancellor Angela Merkel, the new French leader overturned the austerity-first consensus that has dominated the debt-crisis response and risked fracturing the Berlin-Paris alliance that built the European Union and euro.
“We now need to have a stability policy in order to support the countries that took some efforts,” Hollande told reporters early today at a summit in Brussels, the 19th since the crisis erupted. “Stability measures should be a priority before any other consideration.”"
BBC Sport - Germany 1-2 Italy: "Mario Balotelli secured Italy a place in the Euro 2012 final against Spain as his goals defeated Germany in Warsaw."
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