BR100 Increased By (1.77%)
BR30 Increased By (1.96%)
KSE100 Increased By (1.59%)
KSE30 Increased By (1.65%)
BECO 5.62 Increased By ▲ 0.04 (0.72%)
BML 59.51 Decreased By ▼ -1.71 (-2.79%)
BOP 34.61 Increased By ▲ 0.93 (2.76%)
CNERGY 8.08 No Change ▼ 0.00 (0%)
DCL 12.05 Increased By ▲ 0.41 (3.52%)
FCCL 54.40 Increased By ▲ 2.26 (4.33%)
FCSC 5.52 Decreased By ▼ -0.11 (-1.95%)
FFL 18.05 Increased By ▲ 0.04 (0.22%)
FNEL 1.33 Decreased By ▼ -0.02 (-1.48%)
HUMNL 11.07 Increased By ▲ 0.03 (0.27%)
KEL 8.05 Increased By ▲ 0.21 (2.68%)
KOSM 5.88 Increased By ▲ 0.15 (2.62%)
MLCF 90.52 Increased By ▲ 4.01 (4.64%)
NBP 190.17 Increased By ▲ 5.87 (3.19%)
PACE 11.53 Decreased By ▼ -0.12 (-1.03%)
PAEL 41.07 Increased By ▲ 1.11 (2.78%)
PIAHCLA 25.84 Increased By ▲ 0.17 (0.66%)
PIBTL 17.51 Increased By ▲ 0.24 (1.39%)
PPL 225.84 Increased By ▲ 3.17 (1.42%)
PRL 34.63 Increased By ▲ 0.17 (0.49%)
PTC 64.62 Increased By ▲ 0.88 (1.38%)
SEARL 91.38 Increased By ▲ 0.92 (1.02%)
SSGC 26.97 Increased By ▲ 0.30 (1.12%)
TELE 8.93 Increased By ▲ 0.02 (0.22%)
THCCL 69.16 Increased By ▲ 0.69 (1.01%)
TPLP 10.90 Decreased By ▼ -0.30 (-2.68%)
TREET 24.64 Decreased By ▼ -0.06 (-0.24%)
TRG 69.78 Decreased By ▼ -0.81 (-1.15%)
WAVES 11.16 Increased By ▲ 0.05 (0.45%)
WTL 1.27 No Change ▼ 0.00 (0%)
Top News

French finance chief warns against Greek euro exit

Published May 22, 2012 Updated May 22, 2012 07:54am

PARIS: Greece exit from the eurozone risks causing an "unpredictable" spread of the debt crisis, a scenario which France will work to avoid at all cost, French Finance Minister Pierre Moscovici said Tuesday.

"Everything must be done to help pro-European and pro-euro forces in Greece," ahead of repeat elections due next month, Moscovici told AFP, citing "measures to boost growth and give back hope to the Greek people".

Moscovici was also confident that Paris and Berlin will find compromises on a string of French proposals to relaunch economic growth in Europe even though both capitals currently disagree on eurobonds.

"Compromises are possible, notably on boosting the capital of the European Investment Bank, the mobilisation of unused structural funds and the creation of a European tax on financial transactions," he said after talks with German counterpart Wolfgang Schaeuble in Berlin.

Moscovici said he and Schaeuble had found "a common language" to face the current crisis.

"Wolfgang Schaeuble's talk was very positive," he said on the plane that took him back to Paris.

However Moscovici saw still "major disagreement" between Paris and Berlin on eurobonds whose introduction would allow embattled governments to borrow from financial markets more easily by having their debt guaranteed by fellow EU members.

German Chancellor Angela Merkel has adopted a hard line against eurobonds, arguing that Germany Europe's largest economy and the state with the lowest borrowing costs would pick up the tab if eurozone debt were pooled.

Copyright AFP (Agence France-Presse), 2012

Comments

Comments are closed for this article.