Morning in brief: Hollande and Merkel set for first meeting

French president Francois Hollande and German chancellor Angela Merkel are set to meet for the first time since the former was elected.

The Wall Street Journal details efforts by Greek politicians to establish a technocratic government as coalition talks fail to progress.

Ratings agency Moody’s has downgraded 26 Italian banks, according to Bloomberg.

There was mixed news from two of the eurozone’s largest economies, as Germany reported a return to growth with 0.5% GDP during the first quarter of the year, writes the BBC. However, the French economy slipped to zero growth during the same period.

US president Barack Obama has warned that the country’s government would have been forced to rescue JP Morgan Chase & Co over trading losses if it had been a smaller bank, reports Reuters.