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With a gaping public deficit and record
  levels of debt, the euro zone's second
  biggest economy, wants to ensure it
  does not soak into the block played by
  the debt crisis Domino, thus Pariss
  powerful lobbying for ways to support
  Europe's banks.

France is one of the strongest advocates
  of a Europe-wide Union Bank and with
  an eye to its own banks' exposure to
  vulnerable debt in struggling countries
  for immediate recapitalization of banks
  from the euro zone rescue funds.


                               Page 2
"I think the French are pushing this for one
    simple reason: they bloody well know
    they're next in line. They're after Italy,
    "said Nicholas Spiro, head consultancy
    Spiro Sovereign Strategy.

The debt crisis has already spread through
  Greece, Ireland and Portugal, all of which
  have international bailouts. Spain has
  asked for help in its banks. Cyprus may
  seek a broader bailout married. Italy has
  recently seen borrowing costs rise to
  dangerously high levels.



                                    Page 3
Eager to stop the snowball, France's
  new President Francois Hollande
  quickly defended ideas to fight
  contagion, some of which have
  brought him into direct opposition with
  Germany.

Investors currently provides France the
  advantage of the doubt, driving
  French yields to historic lows as they
  seek the relative safety of bonds
  issued by a core European country
  which nevertheless offer richer yields
  than Germany.

                                 Page 4
France's finances is nothing like as
  good as Germany's, and its banks
  have heavy exposure to Greece
  and Italy - a concern that has
  conditioned its response to the
  crisis.

"It is clear that pressure from the debt
    crisis comes at France and other
    countries, AAA, if no significant
    progress in benefits risks," said
    Michel Martinez, societe Generale
    chief economist for France.



                                 Page 5
Micron Associates claims, Spain and
  Italy's borrowing costs have eased
  somewhat on expectations that an
  EU leaders summit this week will
  produce bold new approaches to
  contain the crisis. That, run the risk
  of becoming too expensive to
  manage, to spa ¸ Ferry need for
  sovereign bailouts.

Hollandes socialist government has
  thrown its support behind the idea
     ​
  of setting up a bank union in
  Europe, with a central authority,
  joint deposit guarantees and a fund
  to wind down dud banks.
                                  Page 6
But France is also pressing for more
  immediate solutions that could shelter
  banks from the risks associated with
  debt in the south, fully aware that the
  crisis could worsen with lightning
  speed.

Paris has been a proponent of using the
  euro zone bailout funds to recapitalize
  banks directly, although Germany's
  opposition to the idea remains a major
  obstacle.




                              Page 7

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Micron Associates: The euro zone's second largest economy, played by the debt crisis Domino, Micron Associates report

  • 2. With a gaping public deficit and record levels of debt, the euro zone's second biggest economy, wants to ensure it does not soak into the block played by the debt crisis Domino, thus Pariss powerful lobbying for ways to support Europe's banks. France is one of the strongest advocates of a Europe-wide Union Bank and with an eye to its own banks' exposure to vulnerable debt in struggling countries for immediate recapitalization of banks from the euro zone rescue funds. Page 2
  • 3. "I think the French are pushing this for one simple reason: they bloody well know they're next in line. They're after Italy, "said Nicholas Spiro, head consultancy Spiro Sovereign Strategy. The debt crisis has already spread through Greece, Ireland and Portugal, all of which have international bailouts. Spain has asked for help in its banks. Cyprus may seek a broader bailout married. Italy has recently seen borrowing costs rise to dangerously high levels. Page 3
  • 4. Eager to stop the snowball, France's new President Francois Hollande quickly defended ideas to fight contagion, some of which have brought him into direct opposition with Germany. Investors currently provides France the advantage of the doubt, driving French yields to historic lows as they seek the relative safety of bonds issued by a core European country which nevertheless offer richer yields than Germany. Page 4
  • 5. France's finances is nothing like as good as Germany's, and its banks have heavy exposure to Greece and Italy - a concern that has conditioned its response to the crisis. "It is clear that pressure from the debt crisis comes at France and other countries, AAA, if no significant progress in benefits risks," said Michel Martinez, societe Generale chief economist for France. Page 5
  • 6. Micron Associates claims, Spain and Italy's borrowing costs have eased somewhat on expectations that an EU leaders summit this week will produce bold new approaches to contain the crisis. That, run the risk of becoming too expensive to manage, to spa ¸ Ferry need for sovereign bailouts. Hollandes socialist government has thrown its support behind the idea ​ of setting up a bank union in Europe, with a central authority, joint deposit guarantees and a fund to wind down dud banks. Page 6
  • 7. But France is also pressing for more immediate solutions that could shelter banks from the risks associated with debt in the south, fully aware that the crisis could worsen with lightning speed. Paris has been a proponent of using the euro zone bailout funds to recapitalize banks directly, although Germany's opposition to the idea remains a major obstacle. Page 7