LUDWIGSBURG: The leaders of France and Germany meet Saturday to mark a seminal 1962 speech by Charles de Gaulle, with the euro crisis and a proposed EADS-BAE merger also on the agenda.
German Chancellor Angela Merkel’s spokesman said the meeting in the southwestern city of Ludwigsburg, where De Gaulle addressed German youth in a key gesture of post-war reconciliation, was to be largely ceremonial.
But a few hot topics will nevertheless figure on the menu.
“The issue of EADS and BAE will certainly be addressed at the working lunch with President (Francois) Hollande,” the spokesman, Steffen Seibert, told reporters Friday, referring to the mooted tie-up.
“There will of course be no decisions this Saturday and you should not go into the press conference expecting any.”
The same applied to the issue of tighter checks on the European banking sector, a focus of eurozone crisis-fighting at the moment, Seibert said.
Governments have been cautious since the announcement last week that the British defence group BAE and European aerospace behemoth EADS are negotiating a merger.
The French presidency has said Paris and Berlin were waiting for the merger project to be clarified before passing judgement and taking decisions.
Germany has also taken a wait-and-see approach, with some officials arguing that the bigger company would create a potent challenger to US rival Boeing while others worry the fusion could end up costing good jobs.
The two groups have until October 10 to finalise the project or abandon it.
France and Germany hold major stakes in EADS, while the British state has a golden share in BAE that allows it to veto deals that it perceives not to be in the public interest.
Meanwhile Paris and Berlin have differing views on common EU banking supervision, seen as crucial to ensuring financial stability.
While France would like to hand the European Central Bank power to supervise all 6,000 eurozone banks from January, Germany would like it to tackle just big banks and is in little hurry, favouring thoroughness over speed.
Dear TNT Reader,
At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.
Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.
But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.
Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.
Donate Monthly Subscription Annual Subscription