To that end, Hollande wants to slap a 75 percent tax rate on those Frenchmen earning in excess of ?1 million per year.
The United Nations Summit on Sustainable Development in Rio de Janeiro, a two-day meeting of more than 115 political leaders from around the world, is turning out to be a major bust.
The announcement has received a warm welcome from international leaders, with many praising European efforts to get to the root cause of the debt crisis.
Clashes between Turkish troops and Kurdish militants have intensified after eight soldiers and 10 militants were killed near Turkey's border with Iraq in the worst fighting this year Tuesday.
U.S. President Barack Obama met with world leaders at the G-20 summit in Mexico, which has largely been focused on reinvigorating a stagnant global economy threatened by the EU's persistent debt crisis.
UK Prime Minister David Cameron and Argentine President Cristina Kirchner reportedly crossed paths at the G-20 summit in Mexico, leading to a confrontation over the Falkland Islands dispute.
?We agreed on the need for a cessation of the violence,? Obama told reporters.
The statement, which is expected to be released later today, will undermine the efforts of German Chancellor Angela Merkel, who has become increasingly isolated among her peers over her insistence on an austerity-led European recovery program.
U.S. stock index futures signal a mixed opening Tuesday as optimism following the Greek election results fades and Spain's increasing borrowing costs raise investor concerns.
Asian markets fell Tuesday as investor concerns on the euro zone debt crisis were revived amid fading optimism after the Greek elections and increasing borrowing costs of Spain.
Greece's conservatives are close to forming a coalition government following their narrow election victory, a party official said Monday.
The first thing thousands of international delegates headed to the G-20 summit will likely see as they land in Los Cabos, Mexico, this week will be the spiny bush-clad hills and azure waters that typify southern Baja California.
In a victory for environmentalists, Mexican President Felipe Calderon on Friday canceled the construction of a planned resort in Baja California.
With Sunday's Greek election result doing little to ease long-term fears that the country still faces a messy exit from the euro, the G-20 delegates are left speculating how to tackle a spiraling crisis with no clear end in sight.
?The new government in Greece must fulfill their commitments quickly,? says German Chancellor Angela Merkel.
The Socialists and their cohorts now control 315 seats in the 577-seat Assembly -- marking the first time in 30 years that Socialists have enjoyed such dominance in the French government.
Asian markets rose Monday as investors were relieved after the pro-bailout parties won Sunday's elections in Greece.
Crude oil futures gained Monday after pro-bailout parties won a slim majority in Greece's general election over the weekend.
Japan's Nikkei 225 Stock Average rose Monday as investor concerns were eased following the Greek election in which pro-bailout parties won the majority.
The pro-bailout New Democracy Party and the anti-bailout far-left Syriza party are expected to finish in a dead heat.
Asian stock markets advanced for the second straight week on expectations that major central banks in the world would act to tackle deteriorating global economic conditions.
A euro-area breakup might appear to be inevitable at this point. But, instead of Greece being pushed out the door, analysts say an outside-the-box solution to the euro zone's sovereign-debt problem would be for Germany to voluntarily withdraw from the euro and reinstall the Deutsche mark.
