French auditors reveal a $43 billion funding shortfall for 2012 and ’13, forcing Socialist President François Hollande to shift his focus from progrowth efforts to measures that look a lot like austerity he criticized elsewhere
Germany
Must-Reads from Around the World, July 3, 2012
Today’s picks: Mexico declares emergency over renewed bird flu outbreak, a new report condemns Syria’s “state policy of torture,” and the Burmese parliament prepares to reshape its economy, following half a century of military rule.
La Roja‘s Stunning Euro 2012 Success Enthralls a Depressed Spain
Spain’s national soccer team wins an unprecedented third-straight international title with Sunday’s 4-0 European Championship win over Italy, and gives fans new reason for joy–and hope–amid the crushing euro crisis.
E.U. Summit: Up All Night, But Consensus Finally Reached
Billed as the “last chance” summit to contain the escalating euro crisis, the meeting of EU leaders produces measures to relieve short-term financial pressures on vulnerable members, and lay the framework for significant …
Must-Reads from Around the World, June 29, 2012
Today’s picks: Germany and the E.U.’s crunch summit, the U.S.’s Iranian oil sanctions and Hong Kong’s handover birthday looms.
Must-Reads from Around the World, June 26, 2012
Today’s global stories delve into the prospects for peace in Kashmir, Paraguay’s presidential impeachment and the Queen’s historic visit to Northern Ireland.
Greek Gloom Deepens After Loss to Germany in Euro 2012
Greek fans hoped against hope that their team could defeat a far superior German side in the quarterfinals of Euro 2012. But a heavy defeat to the nation that has demanded Greece adopt harsh austerity measures deepened the gloom.
Must-Reads from Around the World, June 22, 2012
Today’s picks: a week to save the Euro, Putin heads to Jerusalem and China’s military tries to clean shop.
Antonis Samaras: The Aristocrat Who Now Leads Austerity-Ridden Greece
Antonis Samaras opposed a bailout and then voted to support another. Now prime minister, he must figure out a way to bring the Greek economy back from the dead
Must-Reads from Around the World, June 19, 2012
In today’s scan of stories: signs of tension at the G20 in Mexico, semi-exiled activist Chen Guangcheng talks to the U.S. media and a new Greek government looks likely.
After Socialist Romp in Elections, France’s Conservatives Face Existential Crisis
French President François Hollande’s Socialists win formidable legislative control, while France’s conservatives suffer the consequences of having pandered to the country’s far right
Greece’s Election Results: Déjà Vu All Over Again?
The conservative New Democracy party eked out a victory in Sunday’s parliamentary elections — though, once again, not enough to form a government outright
Hollande’s Socialists Win Parliamentary Majority in French Elections
The French parliamentary elections hand Socialists and their leftist allies the large majority that President François Hollande needs to pass progrowth policies — and challenge German Chancellor Angela Merkel’s austerity …