Since three years, euro zone's debt crisis is ongoing but Germany's recent hint of Greek debt relief has somewhat raised euro hopes.

The hint-in-talks came from the announcements of Finance Minister that he made last week behind closed doors hinting about tantalizingly at a potential breakthrough.

According to recent reports, tension between the steel giant Mittal and France is on a high rise as France is extremely upset with it.

Arnaud Montebourg, the French Industrial Renewal Minister said that Mittal has never respected France and therefore, doesn't wasn't it in France anymore. He further said that France is finding another industrial partner to carry out the operations further.

It seems it would take some more time to strike an agreement over European Union's budget as there are yet to be differences sorted out. "I think we are not yet at the stage where we need to be, namely (ready for) a collective decision", German Chancellor Angela Merkel said while she arrived for a second day of talks in Brussels.

As per revelations of a recent report, Ex-president Nicolas Sarkozy has been alleged of being illegally financed for his 2007 election campaign. But, Sarkozy has been claiming before judges that Liliane Bettencourt, who is France's richest woman, has never disbursed him money.

Germany is planning to buy the French shares of European Aeronautic Defence & Space Co. (EADS), reported Handelsbat.

Government of Germany has given the authority to buy the shares to a domestic state bank named KfW Bankengruppe, said the reports. The bank is planning to buy a few shares from Daimler which is willing to sell those and owns 22.5% of those.

Differences between Germany and France have been conquered by the two nations on the development of the Ariane 5 rocket successor, reveals a recent report. Now, the plan for an Ariane 5 ME backed by Germany would go on its go.

It has been reported that Moody's Investors Service, rating agency, has wiped out France from triple-A credit rating. The action was taken by the agency on Tuesday. Nations that have received top rating from the agency previously are now worrisome about the ratings.

It has been reported that the government of France and Germany would be given 12% share or stake in aerospace and defense group EADS. The agreement thus signed would allow Spain to have 30% share in Airbus planemaker.