French press review 3 August 2012
There are several issues on the front pages of today’s papers, starting with the European Central Bank’s decision not to announce any immediate measures to resolve the region's debt crisis, such as bond buying, which many had hoped for.
The ECB’s position means that "austerity is the only choice Europe has", according to L’Humanité. The Communist party daily is saddened by the decision taken by the Bank’s President.
According to the paper it has complicated the situation of countries in difficulty as they are obliged to subject themselves to more painful budget restrictions and harsher conditions in the labour market.
The economic newspaper Les Echos admits that the gamble by the ECB chief Mario Draghi carries the risk of sparking a hot summer for the markets since they may not benefit from any immediate rescue by the Bank.
The move has in fact sent US and European stocks down, placed the euro back under pressure and dashed traders' hopes for strong policy actions to support troubled eurozone economies.
Le Figaro hears the grumbling from the Centre-Right opposition for the termination of the 35-hour work week in France. The conservative newspaper says the re-taxation of overtime will only increase the cost of labour. Le Figaro reports that former Industries Minister Christian Estrosi, is about to table a proposed bill in parliament on ending the reduction of working time in France.
Le Monde examines the situation of the rural communities in France as peasant farmers are poised to wage battles with multinationals who are threatening their right to seed cultivation on their own farms.
La Croix draws its front page story from the raging war in Syria. The Catholic newspaper publishes an appeal for help sent out by the people of Aleppo.
The rebel stronghold is being subjected to intense bombardment by Syrian tanks backed by helicopters and fighter jets. The emotional letters urging the people of the world to rescue the “dying city” are written by two members of the Marist community in Aleppo, according to the Catholic daily.
Libération is all about Pussy band, the anti-Putin punkettes composed of three young Russian singers, whom have managed to ruffle the feathers of President Vladimir Putin and stir up some fear in him.
The girls have been under detention for several months and face up to seven years in prison for standing up against the policies of the Kremlin, according to the left-leaning newspaper.
L’Equipe celebrates France’s performance at the London Olympics as they upped their medal tally by more Gold and Silver on Thursday's with Emilie Fer claiming gold in the Kayak individual slalom.
The sport daily crows about the 29-year-old Emilie overcoming the race course rapids and a fragile state of mind to become France's first ever Olympic gold medalist in her sport.