Ukraine Rejects EU Financial Aid for Russian Deal

On Tuesday, December 17,Ukrainian President Viktor Yanukovich struck a deal with Russia, investing $15 billion (€11 billion) into the failing economy of the former Soviet nation. Russia also offered to reduce the price of its natural gas exports to the Ukraine by one-third, minimizing the amount paid by Naftogaz, Ukraine’s chief industrial gas company. These […]

Disappointing EU Factory Data Raises Doubts About Recovery

Eurozone manufacturing numbers plunged in July to their lowest level in three years, according to newly-released macroeconomic data. A fall of 1.5% in industrial output was reported across the 17-country Eurozone, instead of the 0.1% increase forecast by economists. The drop, reported by European Union statistics agency Eurostat, raises serious questions about whether European leaders […]

An Economic Recovery May Save Hollande’s Presidency

France’s recession is officially over, as newly released economic data showed a surprising return to growth in the second quarter. The national economic statistics agency, INSEE, reported that the French economy grew by 0.5% between April and June, its best showing in the last two years. The unexpected boost was attributed in large part to […]

Manufacturing Improvements are Good Omen for French Economy

French manufacturing output for July shrank at the slowest rate in the last 17 months, in what some analysts are taking as a sign that the worst of France’s recession is over. According to financial information company Markit, France’s purchasing managers’ index (PMI)—a measure of factory activity that factors in output, hiring, and other economic […]

IMF Report Predicts Modest Recovery but Worsening Unemployment

In an official report on Tuesday, the International Monetary Fund (IMF) forecast a modest return to growth for France in 2014 while warning that unemployment would continue to rise, and advised the French government to ease its deficit reduction measures. In its review of the French economy—the Eurozone’s second largest after Germany, with a GDP […]

EU Commission Warns France over Public Debt Levels

On Wednesday, April 10, the European Commission singled out France, issuing harsh warnings over serious public sector debt levels that could possibly weaken the entire Eurozone. A Commission report stated that high and increasing public debt is “reducing the capacity of public finances to face potential adverse shocks,” which could negatively affect the entire Union’s […]

Home of Christine Lagarde, IMF chief, most recent raid over the Tapie Affair

The house of Christine Lagarde, current head of the International Monetary Fund (IMF) and former Minister of Economy and Finance, was raided by French police on March 20. The raid on her Parisian home occurred as part of an ongoing investigation into the sale of Adidas sports equipment to the French bank, Crédit Lyonnais, known […]

Tapie Affair Continues to Raise Questions of Fraud

On Thursday, January 24 the houses of two prominent French businessmen were raided by police in Paris. The homes of chief executive of France Telecom SA Stéphane Richard and business tycoon Bernard Tapie were searched as part of an ongoing investigation into what is now well-known in France as the “Tapie Affair.” The legal drama […]