A second European nation has joined the battle against Islamic terrorists attempting to overthrow the Malian government as the UK has begun to transport French troops and supplies via C17 aircraft.
The British have called the move “limited logistical support” with support of the nation’s National Security Council. Defense Minister Andrew Robathan said that he expected operations by the Royal Air Force to last about a week. Continue reading
Despite statements from French military officials that Islamic extremists are retreating throughout Mali since French intervention, reporters on the ground say that the government has lost a major city.
The Islamists today in a surprise counter-attack on Malian army forces, took Bamako, about 250 miles from the capital. French defense minister Jean-Yves Le Drian confirmed to BFM television the Malian army was unable to hold their grounds. Continue reading
In a response to the Mali government’s plea for international help in fighting Islamic terrorists trying to take over the country, France has begun a series of air strikes against the extremists. Continue reading
In a blow to the already beleaguered Eurozone economy, France has been downgraded in its credit status by Moody’s.
The country’s debt downgraded one position from AAA to AA1 and has kept a negative outlook. The negative outlook means that it’s very likely France could see another downgrade to their rating. The lower rating results in higher interest rates for borrowing costs hampering international investment. Continue reading
French President Francois Hollande says a deal to start building a “banking union” on January 1 will “speed up” economic integration.
EU leaders agreed to set up a single banking supervisor for the 17-nation Eurozone. The move is seen as the first step to an entire European Union wide banking union. Continue reading
French police arrested 12 people in weekend raids resulting in the discovery of one of the biggest bomb plots in the nation in almost 20 years.
Prosecutors on Friday announced that one suspect was killed after firing on police officers. Five of those detained have been released but seven remain in custody including two that Paris prosecutor Francois Molins said had connections to an international Islamic Jihadist network. Continue reading
On the same day that Italy’s prime minister proclaimed he could see a “light at the end of the tunnel” for the Eurozone debt crisis reports surfaced that the unemployment rate is at a record high.
Italian Prime Minister Mario Monti met with French President Francois Hollande in Paris for discussions on the euro. Hollande agreed their had been “significant progress” in recent weeks and that the euro should be “defended, preserved and consolidated.” Continue reading
The prime minister of France is calling for the French people to support the government as it tries to tackle a “crushing” debt crisis.
Jean-Marc Ayrault said the nation is preparing to deal with an “unprecedented” debt crisis. He said that anyone earning more than 1 million euros would be taxed at 75%. Continue reading
A survey is showing that business activity in Europe has fallen to a 35-month low. In response, the euro fell to a 22-month low against the US Dollar.
European leaders failed to reach an agreement on how to handle the crisis as a proposal by French President Francois Hollande for pan-European bonds was opposed by German pending “more economic discipline” across Europe. Continue reading
A French scientist has been sentenced to five years in prison for plotting terrorist attacks with the help of Al Qaeda.
Adlene Hicheur exchanged e-mails with an alleged Al Qaeda operative suggesting he was willing to be part of an “active terrorist unit” with the goal of destroying French targets. Continue reading
