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Blow for Sarkozy as French ferry firm goes under

SeaFrance employees gathered outside the court shed tears and lit flares upon hearing that the loss-marking firm had been liquidated and ordered to cease activity.

Euro falls to 16-month low against dollar as bank shares slump

The beleaguered currency fell to $1.2831 against the dollar after rising French borrowing costs and a suggestion from Spain’s new economy minister that Spanish banks may face up to €50 billion in new bad loan provisions unsettled markets.

The French and the euro: not so happy anniversary

On 10th anniversary of euro going into circulation a poll shows a majority of the French think the single currency is bad for the country
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Marine Le Pen, presidential candidate of France's far right National Front at a Christmas market last month. An anti-euro campaigner, will she be able to win extra votes out of French disillusionment with the single currency. (FRED DUFOUR/AFP/Getty Images)

Exactly ten years ago, the first euro coins and notes began to circulate around Europe. To mark the occasion the newspaper Journal du Dimanche commissioned a poll from Ifop on French attitudes to the single currency. The results are not encouraging for political leaders.

A majority of those polled, almost two-thirds, say the euro is not good for France or for them personally. There is a generational shift underlying this view. Anti-euro feeling is highest among the young. The over-65's are more likely to view the euro positively.

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French manufacturing base is contracting rapidly as a result of crisis

In the last three years hundreds of factories have closed and jobs permanently lost
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Despite all the protests and demands that government do something to save jobs, French manufacturing is going through the most severe period of de-industrialization in four decades with the loss of tens of thousands of jobs. (MARTIN BUREAU/AFP/Getty Images)
In the last three years hundreds of French factories have closed as a result of the economic crisis and tens of thousands of jobs have been permanently lost
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France and Turkey in war of words over Armenian genocide

Turkish Prime Minister Recep Tayyip Edrogan recalls his ambassador from France following vote in France's National Assembly
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What's in a word? When it comes to Genocide a lot. A Turkish man holds a placard reading 'Genocide is a lie' in front of the French Consulate in Istanbul following vote in French Parliament making it a crime to deny the death of 1.5 million Armenians in 1915 at the hands of the Ottoman empire was genocide (BULENT KILIC/AFP/Getty Images)
France and Turkey in war of words over Armenian genocide
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Ratings war: Who deserves the AAA?

Head of France's Central Bank ruffles some British feathers as he claims France deserves a AAA from Standard & Poor's more than Britain.
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Bank of France governor Christian Noyer has ruffled feathers in Britain with comments on Britain's credit worthiness (ROSLAN RAHMAN/YouTube)
Head of France's Central Bank ruffles some British feathers as he claims France deserves a AAA from Standard & Poor's more than Britain.
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Europe: the wisdom of markets?

When it comes to pricing sovereign debt, can anyone figure out what the bond markets are thinking?
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Campaigners for minority party Equo hold election rally on steps of Bank of Spain in Madrid. Despite likelihood of a right-wing government winning this weekend's elections bond markets drove Spanish 10-year bond yields to record highs today. (CRISTINA QUICLER/AFP/Getty Images)
Do bond markets know what they're doing?
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Europe and the markets say TGIF!!

Greeks have a new government, Berlusconi is expected to go this weekend ... but the euro zone crisis is far from over
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Mario Monti, probable replacement for Silvio Berlusconi as Italian Prime Minister, arrives for Friday's vote in the italian Senate on an austerity package. (ANDREAS SOLARO/AFP/Getty Images)

At the end of the worst week for Europe politically and economically since the fall of the Berlin Wall here's where we are:

Greece's new Prime Minister Loukas Papademos was sworn in and the new PM pledged Greece would do everything required to stay within the euro

Italy's Senate voted through a package of austerity measures the first step in paving the way for Silvio Berlusconi to resign.

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Europe: can anyone save it from itself?

As Italian bond yields reach unsustainable highs and world markets begin to fall, Europe faces the worst crisis of leadership since August 1914. And we all know how that turned out.
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A statue to one of the fallen of World War I. Are today's European leaders as inept in guiding the continent through troubled times as those in charge in August 1914? (Peter Macdiarmid/AFP/Getty Images)


A snapshot of a moment in history:

November 10, 2011.  Global stock markets are falling. The yield on Italian bonds continues to rise.

A German newspaper reports that Chancellor Angela Merkel is going to float the idea of re-writing the rules governing the euro zone at her Christian Democratic Union party meeting next week. At present there is no mechanism for countries inside the euro to leave.

Merkel reportedly wants a new treaty provision that defines the ways in which a nation can leave - or be asked to leave - if it doesn't meet the basic conditions of euro zone membership. You want to know the basic conditions?: an annual budget deficit no higher than 3 percent of GDP and a national debt lower than 60 percent of GDP.  Italy's debt is currently 120% of GDP. Got the picture?

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VIDEO: Sarkozy visits Bruni and daughter in Paris clinic

Nicolas Sarkozy has paid his third visit to the maternity clinic where Carla Bruni gave birth to their daughter on Wednesday night. The French president missed the birth to attend euro crisis talks in Germany, and on Thursday proceeded with a visit to western France as scheduled.
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