Saudi FM calls Indian, Pakistani counterparts to discuss developments    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Arabia cracks down on fraudulent Hajj campaigns, urges pilgrims to use official channels    Nammos Amala Resort to open soon with Saudi-Greek designs    Saudi Arabia completes 674 Vision 2030 initiatives, achieves 93% of KPIs as ninth-year milestone marked    Literature Commission inaugurates Saudi Pavilion at Muscat Book Fair    Saudi Minister of Culture holds talks with his Costa Rican counterpart in Jeddah    Alkhorayef praises advancements in Al-Kharj food industries sector    MHRSD: 80% of recruitment offices are non-compliant with regulations    At least 50 Palestinians killed in Israeli strikes across Gaza    Teenage girl killed in French school stabbing attack    Trump claims meeting with China after Beijing denies any trade negotiations    GACA chief chairs 16th meeting of the Steering Committee on aviation's strategy    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Jennifer Lopez dazzles in Jeddah with a Formula 1 performance    Saudi Arabia open to expanded 64-team World Cup in 2034, says sports minister    Average life expectancy in Saudi Arabia rises to78.8 years    Film Commission launches 'Cinema' initiative to enhance content    Famed Philippine film star Nora Aunor dies at 71    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Britain, France condemn US defence move, disagree on funds
Published in Saudi Press Agency on 12 - 03 - 2010

The leaders of Britain and France today fiercely
criticized the decision by a top US defence firm to pull out of a
partnership with Europe's EADS over a contract to build tanker
aircraft, dpa reported.
"This is no way for the US to treat its European allies," French
President Nicolas Sarkozy said after talks in London with British
Prime Minister Gordon Brown.
He said the decision by US defence firm US firm Northrop Grumman
to withdraw from the partnership with European aerospace giant EADS,
parent of Airbus, "set the wrong example in the fight against
protectionism."
Brown said Britain, which believed in open competition and a free
market, was "very disappointed" that the European offer "did not find
favour."
The US decision earlier this week leaves rival Boeing as the sole
bidder for the contract, worth 35 billion dollars.
During their talks over lunch in Downing Street, the two leaders
also discussed European Union (EU) plans to regulate hedge funds and
private equity, a tax on international banking transactions and the
German-inspired idea of setting up a European Monetary Fund (EMF).
However, both Brown and Sarkozy made clear that they were not in
agreement on the vexed issue of tighter hedge fund regulation, which
Britain feels could harm the interests of the City, London's
financial centre.
Hedge funds needed to be regulated, said Sarkozy, adding that he
understood that Brown should "defend the interests of the City" just
as he defended the "economic interests of France."
"We have not reached equilibrium yet," said Sarkozy. Brown said
the people of Europe wanted more transparency in the financial sector
and he hoped that a solution could be found in the next few days.
Brown was cool on the idea of a European Monetary Fund to bail
out troubled Eurozone economies, saying that existing arrangements
and institutions should be used first to deal with deficit problems.
Sarkozy added that he was "always open to new ideas" and believed
that the Eurozone had to "show solidarity" among its members.
The French president was later due to have talks with David
Cameron, the leader of Britain's opposition Conservative Party, which
last year pulled out of the European People's Party (EPP), the main
centre-right grouping in the European parliament.
Asked whether he would urge Cameron to rejoin the EPP, Sarkozy
said he had "enough problems at home" to become involved in those of
other countries and political parties.
The French president angrily rejected as "ridiculous rumours"
recent reports of alleged strains in his marriage with former model
Carla Bruni-Sarkozy, which had been picked up in the British press.


Clic here to read the story from its source.