'Black Thursday' Strike Staggers France

(NEWSER) - The plans outlined by global leaders at the meeting to deal with the financial crisis reflect a shifting balance of power, with emerging economies such as Brazil, India, and China gaining influence, the Washington Post reports. And the Europeans largely got what they wanted from the summit, French President Nicolas Sarkozy said after the emergency meeting ended yesterday. More»

Mum on details, will pitch to EU leaders this month

(AP) - The leaders of Germany and France, the eurozone's two biggest economies, say they have reached agreement on strengthening Europe's shaky banking sector. German Chancellor Angela Merkel says she and French President Nicolas Sarkozy "are determined to do the necessary to ensure the recapitalization of Europe's banks." Merkel spoke after talks with Sarkozy at Berlin's chancellery today aimed at forging an agreement ahead of a summit of the European Union's 27 leaders later this month. More»

'Action-man president' looks powerless on crisis

(NEWSER) - Nicolas Sarkozy should be well positioned to gain political capital from the global recession, having warned against capitalist excess years before the crisis quashed pro- deregulation argument. But the French president’s approval rating keeps dropping, the Economist reports. It fell another 2% in April, to 36%. As the crisis grinds on, more and more French feel the effects—and feel their president can do little to help. More»

French prez seeks tough financial regulations—or else

(NEWSER) - Nicolas Sarkozy may walk out on the G20 summit if things don't go his way, the Times of London reports. The French president—who blames "Anglo-Saxons" for the financial crisis—is pushing for tougher global financial regulation and has told his ministers that he will abandon the talks if France's demands are not met. More»

Nationwide strike cripples transport, shuts schools

(NEWSER) - France is in the grip of the second nationwide strike in 2 months today as unions protest the Sarkozy administration's economic policies, reports AFP. Air and rail transport has been disrupted, and half of primary school teachers have not come into work. The strikers are demanding a higher minimum wage, more progressive taxation, and an end to plans to cut the public sector. More»