Monthly Archives: October 2011

Sakorzy flies to Germany as Euro Zone talks flop

Posted on October 19, 2011 by

Plans to tackle the euro zone debt crisis have stalled with Paris and Berlin at odds over how to increase the firepower of the region’s bailout fund, French President Nicolas Sarkozy said on Wednesday. Sarkozy told French lawmakers the dispute was holding up negotiations and flew to Frankfurt to talk with German Chancellor Angela Merkel in an attempt to break the deadlock ahead of a make-or-break European leaders’ summit on Sunday.The two leaders left that meeting without speaking to waiting reporters. Asked if a deal had been reached, Jean-Claude Juncker, chairman of the Eurogroup of euro zone finance ministers who attended the evening meeting, replied: “We’re still in meetings Saturday, … Continue reading →

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Unions warn Jonathan over fuel subsidy

Posted on October 17, 2011 by

Nigeria’s trade unions have warned President Goodluck Jonathan there could be civil unrest if the go-ahead is given to remove the fuel subsidy the government says will cost 1.2 trillion naira this year. The elimination of the subsidy has for years been one of the biggest political debates among Nigerians, many of whom feel it is the only benefit they get from living in an oil-rich state. Previous attempts by governments to remove the subsidy have prompted strike action and street protests. Nigeria produces more than 2 million barrels per day of crude oil but a lack of investment in refineries and infrastructure means almost all of this is exported, … Continue reading →

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