France seeks 120 bln EU package, euro bonds later - Reuters UK
PARIS, June 17 |
PARIS, June 17 (Reuters) - France wants the European Union to agree before the end of 2012 on growth-boosting measures worth 120 billion euros, the weekly Journal du Dimanche said on Sunday, citing a proposal circulated by France ahead of an end-June summit.
The newspaper also reported that France has accepted Germany's rejection of its call to issue mutualised debt in the euro bloc and now agreed that so-called euro bonds were a project to be looked at over a 10-year time frame.
The 120 billion euros are to come from a combination of short-term growth instruments such as project bonds, reallocated EU structural funds and fresh investment capital from the European Investment Bank.
French President Francois Hollande submitted his ideas to EU partners and the European Council a few days ago ahead of a Group of 20 summit in Mexico on Monday and Tuesday and four-way talks with the leaders of Germany, Italy and Spain in Rome on Friday.
"From June, the European Council should adopt growth measures having a rapid impact and totalling 120 billion euros," the newspaper cited Hollande as saying in the document, entitled "European growth pact."
Hollande said the measures should be enlarged upon before the end of 2012 with the creation of a financial transaction tax and measures to create jobs, especially for young people.
The 120 billion euros would be made up of some 55 billion euros of unused EU structural development funds, some 4.5 billion euros in project bonds for infrastructure projects and 60 billion euros in capital that could be raised by the EIB if it were given an extra 10 billion euros in financing, the newspaper said.
Hollande, France's first Socialist leader in 17 years, is demanding that Europe complement a budget discipline pact agreed earlier this year with a growth pact, an idea so widely supported that Berlin has come around to it.
Hollande has put himself on a collision course with the German government, however, with his push for the euro zone to adopt new mechanisms to insulate member states and their banks from market turmoil, such as a joint fund to pay down debt.
Hollande discussed his ideas with Italian Prime Minister Mario Monti in Rome on Thursday and also circulated them to European Council President Herman Van Rompuy and others two weeks before the crucial June 28-29 summit.
The French president also wants the euro zone's ESM permanent rescue fund to be given a banking licence to allow it to borrow money from the European Central Bank to bolster its firepower.
German Chancellor Angela Merkel strongly opposes creating euro bonds in the near term or having Germany underwrite debt or guarantee bank deposits in the euro zone. (Reporting by Jean-Baptiste Vey; writing by Gus Trompiz; editing by Mohammad Zargham)
Golf-Woods bogeys first hole in U.S. Open third round - Reuters UK
SAN FRANCISCO, June 16 |
SAN FRANCISCO, June 16 (Reuters) - Tiger Woods made a shaky start to the third round of the U.S. Open on Saturday, bogeying the tricky opening hole at the Olympic Club.
The former world number one, bidding to end a four-year title drought in major championships, started the day tied for the lead at one under par with fellow Americans Jim Furyk and David Toms.
But the pacesetting trio all bogeyed the 509-yard first hole to drop back to even.
That left them one stroke clear of a group of four players - Americans Michael Thompson and John Peterson, 2010 champion Graeme McDowell of Northern Ireland and Belgian Nicolas Colsaerts.
McDowell, Peterson and Colsaerts all safely parred the first two holes while Thompson, who led after the first round, made a birdie at the first to join the leaders but handed the shot back when he bogeyed the par-three third.
Conditions on the notoriously difficult course were slightly easier in the morning, allowing a handful of early starters to break par, but were expected to get harder in the afternoon once the winds picked up and the greens began to quicken.
American Casey Wittenberg, who teed off five hours before Woods, made an eagle at the seventh hole, then birdied the last two to sign for a three-under 67 to move to five over.
"By the time Tiger and those guys tee off, I think it's going to be a brick," Wittenberg told reporters of the firm and fast-running layout at the Olympic Club.
"There are a lot of front pin placements out there and it's hard to get to those front pin placements when it gets a little crusty in the afternoon.
"I'm sure with the sun being out and everybody walking on those greens it's going to be a challenge." (Editing by Mark Lamport-Stokes)
Whitecaps overcome ejection with late goal to down Rapids - CBC
Sebastien Le Toux's goal in the 80th-minute gave the undermanned Vancouver Whitecaps a 1-0 victory Saturday over the Colorado Rapids.
Vancouver won while playing a man down after striker Darren Mattocks was ejected in the 60th minute following his second yellow card.
The Whitecaps (7-3-4) posted their seventh Major League Soccer victory of the season, surpassing the six they mustered in their 2011 expansion season. Vancouver moved four points up on Colorado (6-7-1) in the Western Conference standings.
Colorado won both games against Vancouver by identical 2-1 scores last season.
Le Toux scored on a sliding volley off Davide Chiumiento's long cross from near midfield. Chiumiento was the key to the play as he dribbled away from three or four defenders in his vicinity and sent the seeing-eye cross.
It was Vancouver's second consecutive victory. Colorado has not won a league game since early May.
Vancouver's Brazilian striker Camilo and French counterpart Eric Hassli, the team's highest-paid player, started on the bench for the second straight game as coach Martin Rennie elected to go with Mattocks and Le Toux, who plays a withdrawn attacker role. Camilo did not see the field for the second consecutive contest while Hassli subbed in during the 86th minute.
Both clubs had excellent scoring chances at the outset of the game. Colorado goalkeeper Matt Pickens stopped a Mattocks shot from close range after the Whitecaps striker darted down the left wing. In the fourth minute, Vancouver goalkeeper Joe Cannon came out to make a sliding save on Edu.
Ten minutes later, Pickens stopped a Gershon Koffie shot from about 35 yards out. Colorado was unlucky not to score in the 28th minute as Martin Rivero drilled a shot wide of the post from about 20 yards as baffled Cannon looked on.
In the next minute, Cannon came out to snatch the ball away from Jeff Larentowicz. Moments later, Koffie had another chance but could only get a weak shot off from short range as he was checked from behind by a defender and stumbled over the ball.
In the 34th minute, Cannon dove right to get his hand on a Rivero shot from the top of the 18-yard box. Following the ensuing corner kick, Cannon dove to his left and caught a deflected ball before it went inside the post.
Two minutes before halftime, Pickens ran out and stole the ball from a charging Le Toux.
Cannon and Pickens were both credited with two saves in the first half.
Five minutes into the second half, Pickens stopped Le Toux from point-blank range after Vancouver's Young-Pyo Lee ran onto a cross but could not get control of the ball. Three minutes later, Koffie fired a shot from the Colorado from the top of the Colorado 18.
Vancouver lost Mattocks as he took two yellow cards a minute apart.
He received the first card in the 59th minute as he was called for diving in the 18-yard box after he ran onto a ball and it was cleared. In the following minute, he took his second yellow, and an automatic red, for a high tackle near the sideline on Colorado captain Drew Moor.
In the 70th minute, Le Toux saw his shot hit ring off the crossbar after the ball hit a fallen Pickens and ricocheted upward. The chance came off a give-and-go between Le Toux and Alain Rochat.
Two minutes after Le Toux scored, Colorado came close to equalizing, but were denied as three factors worked in Vancouver's favour. First, Cannon got his hand on a Conor Casey shot from the right flank. Then with the goalkeeper out of position, Vancouver defender Martin Bonjor blocked an Edu shot. Then Rivero clunked the rebound off the crossbar.
Six minutes later, Colorado was unlucky again as Hunter Freeman curled a shot past Cannon from the corner of the 18 — only to see it hit the post.
The game was the first of three meetings between Vancouver and Colorado this season. Vancouver's next game is Wednesday at home against the New York Red Bulls.
Mattocks will sit out an automatic one-game suspension for the red card.
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