berlin london rift as spain crisis looms
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Berlin, London rift as Spain crisis looms

Arab Today, arab today

Arab Today, arab today Berlin, London rift as Spain crisis looms

Washington - Upi

Britain and Germany are talking to heal a rift over the eurozone troubles as renewed worries loom over a developing debt crisis in Spain and continuing problems in Greece and Italy. German Chancellor Angela Merkel and British Prime Minister David Cameron revealed sharp differences of opinion over ways of tackling the eurozone crisis after they met in Berlin. Although Britain is outside the eurozone its vast financial networks from the City, London's so-called Square Mile, to the rest of Europe are increasingly exposed as the focus shifts toward Spain, seen as the next debt casualty. Britain is also fighting European plans to tax financial transactions throughout the continent, whether the member countries are part of the 17 eurozone constituents or outside it, as is Britain. If implemented the taxation regime will spell ruin for London's financial center, but Germany and France are vigorously pushing for the move. They also want the 2009 Lisbon Treaty revised to allow for a closer monitoring of individual countries' handling of their finances, something that has prompted calls in Britain to ditch Europe. Worries over the eurozone crisis, compounded by most recent market analyses of Spain's troubles, pushed global markets to new lows. "As Spain prepares for its general election on Sunday, it has become the weaker link in the eurozone chain," the BBC said, after Spain found the borrowing rate available to its institutions was inching dangerously close to 7 percent -- generally thought to be unsustainable. Opinion polls ahead of Sunday's general election in Spain predict a clear victory for the right-wing Popular Party. Market analysts said in addition to the Spanish outcome they would await details of plans to boost the eurozone bailout fund to one trillion euros -- about $1.3 trillion. Fears that European leaders would fail to agree on a deal led to more nervous selling in Asia, Europe and North America. There were also fears that European banks might fail to raise enough cash to pump up the European Financial Stability Facility used to bail out troubled member states. Spain had trouble raising funds to the level it wanted this week. Britain has angered France and Germany by questioning approaches to the crisis. Cameron and Merkel showed their differences when Cameron made comments in London seen to be challenging the German chancellor's pronouncements in Leipzig, Germany. Merkel told her party's followers, "The task of our generation is to complete economic and monetary union, and build political union in Europe, step by step... that does not mean less Europe, it means more Europe." A short while later Cameron declared at the London Lord Mayor's banquet those skeptical about eurozone solutions had the right to question "grand plans and Utopian visions."  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

berlin london rift as spain crisis looms berlin london rift as spain crisis looms

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

berlin london rift as spain crisis looms berlin london rift as spain crisis looms

 



GMT 23:24 2017 Tuesday ,24 January

Mofida Shiha prefers social TV programs to politics

GMT 21:23 2017 Sunday ,13 August

Fierce clashes between Daesh, SDF in Raqqah

GMT 19:31 2017 Monday ,16 October

Azhar Imam, Mufti to inaugurate international Fatwa

GMT 18:33 2017 Tuesday ,28 March

S. Korea Preparing for N. Korean ICBM Launch

GMT 23:39 2017 Tuesday ,19 September

Iran recruits Afghans, Pakistanis to fight in Syria

GMT 03:51 2017 Saturday ,11 November

'Lazarus' Daly says recovery no miracle

GMT 13:30 2017 Friday ,17 February

Four killed in Kashmir Gun battle

GMT 18:51 2017 Friday ,17 November

FIA WEC Bapco 6 Hours of Bahrain weekend starts
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday