France to lower GDP forecasts for 2012, 2013: finance minister

PARIS (Reuters) - French Finance Minister Pierre Moscovici said on Sunday the government would lower its economic growth forecasts for 2012 and 2013 given the worsening economic climate. In an interview with Le Figaro newspaper, Moscovici said the government would reduce its 2012 forecast to at least 0.4 percent from 0.7 percent when its revised budget was presented to the cabinet on Wednesday. "As for 2013, everybody knows that we won't reach 1.7 percent. (So) betting on a range between 1 percent to 1.3 percent ... seems more credible," he said. ...

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Europe must be sensitive to Greek people: French minister

Europe must be sensitive to Greek people: French minister New York Daily News Luxembourg, June 22 — Europe must be more "sensitive" to the Greek people and take steps to help revive the country's economy, according to French Finance ... Dutch Finance Min: May Be Limited Leeway on Greek ProgramWall Street Journal Europe must be "sensitive" to Greek people's feelings: French FinMinGlobal Times all 21 news articles »

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Eurozone agrees to move quickly on Spain, Greece

Troubled eurozone nations agreed to act quickly to save Spain's banks, and to send international creditors to Greece for an update from the new government.

The IMF meanwhile called on Thursday for the euro area to establish full banking union, and for the European Central Bank to adopt more demand-generating stimulus policies to help tackle the crisis.

Adding to the sense of urgency, ratings agency Moody's downgraded the credit ratings of 15 of the world's largest financial institutions, citing exposure risk and Europe's economic woes.

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Europe must be "sensitive" to Greek people's feelings: French FinMin

French Finance Minister Pierre Moscovici said Thursday that Europe must be more "sensitive" to the Greek people and take steps to help revive the country's economy.

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Greek pro-bailout parties win knife-edge elections

Greece's two main pro-bailout parties clinched enough votes to form a government in knife-edge elections, as world powers pushed for a new cabinet as soon as possible to ease global fears.

"Today the Greek people expressed their will to stay anchored with the euro," said Antonis Samaras, the leader of the conservative New Democracy party which preliminary official results showed in the lead with 30.04 percent.

"We ask all political forces which share the aim of keeping the country in the euro... to join a government of national unity," he said.

Spanish bank bailout already failing? Nation's borrowing costs soar close to 7%

The interest rate on Spanish 10-year bonds rose to 6.6 per cent - near to the 7 per cent level that forced Greece, Ireland and Portugal to request the rescue of their public finances.