EUROPE - François Hollande's election threws down the gauntlet to Angela Merkel, the German Chancellor, who has railroaded the eurozone into agreeing a new "fiskalpakt" treaty enshrining Germany's austerity doctrine. The economic doctrine of austerity, to cut the burden of state spending to free up the economy, has ruled supreme with the support of all of Europe's leaders, the European Union and financial markets.
FRANCE - French socialist Francois Hollande has won a clear victory in the country's presidential election. Mr Hollande - who got an estimated 52% of votes in Sunday's run-off - said the French had chosen "change". Admitting defeat, centre-right incumbent Nicolas Sarkozy wished "good luck" to Mr Hollande.
UK - Cattle farmers are facing a tense wait to discover the impact the Schmallenberg virus has had on their herds as the disease continues to affect more farms.
USA - A senior Army officer has warned that unmanned drones carrying deadly poison could be used in a devastating terrorist attack during the Olympic Games. Lieutenant Colonel Brian Fahy delivered the grim warning at a meeting intended to allay the fears of residents worried about the Army’s plans to place missiles on the rooftops of flats.
UK - Peter Mandelson will today call for a referendum on Britain’s membership of the European Union. The crisis-hit Eurozone will only survive if it operates more as ‘a single political entity’ with its own president and national MPs sitting within the EU, the architect of New Labour will say.
UK - Fertility clinics are facing demands to restrict the most popular form of IVF after a shocking new report linked it to an increased risk of birth defects. The study created a major alert after revealing the ICSI treatment, used by 23,000 women in the UK every year, creates a ‘sky high’ chance of having a baby with serious abnormalities.
IRELAND - It has become a painfully self-evident truth – surely, even to the silent onlookers at the Vatican – that the longer Cardinal Seán Brady stays in place as Primate of All Ireland, the greater the damage inflicted on the reputation of the Catholic Church in Ireland and beyond. This is not simply because his presence has become a reminder of the cover-up of paedophile abuse by priests, but also because it illustrates a continuing problem: that, after all this time, Cardinal Brady just doesn’t get it.
USA - The US military wants to plant nanosensors in soldiers to monitor health on future battlefields and immediately respond to needs, but a privacy expert warns the step is just one more down the road to computer chips for all.
EUROPE/USA - The euro zone economy worsened markedly last month and US employers cut back on hiring, according to two reports on Friday that dampened hopes for gradual recovery on either side of the Atlantic. In Europe, the purchasing managers indexes (PMIs), which primarily cover services, suggested a recession across the continent's currency union could now extend to mid-year and be deeper than previously thought.
USA - Mike Hapgood, who studies solar events, says the world isn't prepared for a truly damaging storm. And one could happen soon. A stream of highly charged particles from the sun is headed straight toward Earth, threatening to plunge cities around the world into darkness and bring the global economy screeching to a halt.
EUROPE - The prospect of political risks joining economic and debt problems on the euro zone's list of worries, just as the outlook for global growth becomes uncertain, will keep investors focused firmly on safety plays in the coming week.
EUROPE - Senior Eurocrats are secretly plotting to create a super-powerful EU president to realise their dream of abolishing Britain and other nation states, the Daily Express can reveal. A covert group of EU foreign ministers has drawn up plans for merging the jobs currently done by Herman Van Rompuy, president of the European Council, and Jose Manuel Barroso, president of the European Commission.
JAPAN - Japan shuts down its last working nuclear power reactor this weekend just over a year after a tsunami scarred the nation and if it survives the summer without major electricity shortages, producers fear the plants will stay offline for good.
GREECE - Greek voters enraged by economic hardship will punish traditional parties in a highly uncertain election on Sunday that could plunge the country into new political chaos and shake the entire euro zone. At stake is whether Greece sticks with the harsh terms of a hugely unpopular €130 billion ($170.83 billion) EU/IMF bailout, or heads down a path that could see it ejected from the single currency, with dire risks for other EU peripheral states like Spain and Italy.
UK - People who overborrowed during the economic boom must take responsibility for their part in the financial crisis, the defence secretary has said. Philip Hammond said consumers and home-owners who took out loans, spent on credit cards and accepted large mortgages were "consenting adults".