French finance minister, Pierre Moscovici, lashed out at "doom-mongers" predicting his country's economic demise, telling Thursday's Financial Times that "one can be French and take fiscal consolidation seriously." France has reacted with indignation to a series of reports in publications including Newsweek and British business daily City AM that warned the country is on the edge of an economic catastrophe unless President Francoise Hollande implements sweeping reforms to improve competitiveness and reduce the role of government in the economy. Moscovici used his comment piece in the British business newspaper to say that plans announced by Hollande last week proved that "one can be French and take fiscal consolidation seriously." "The doom-mongers are wrong: France is modernising and reforming," he added. "They would gladly dismiss, with a stroke of the pen, its history and its culture." He insisted that it was possible to stick to social democrat values while boosting productivity and that he would resist calls to implement "ready-made solutions". "France deserves better than being subject to preconceived ideas and French-bashing -– it deserves the world's trust," he wrote. Hollande announced last Tuesday 50 billion euros ($68 billion) in spending cuts between 2015 and 2017, and a 30-billion-euro reduction in corporate payroll charges, but said companies in return must create more jobs.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor