Economy in France

  • France: London cannot remain EU banking hub

    FRANCE, 2016/10/30 French finance minister Michel Sapin has said London cannot still be the EU’s banking hub next the UK leaves the bloc. “The initial marketplace for euro-exchanges is London. Almost all the significant chambers are in London. Is this a sustainable position next Brexit? I don’t believe so”, he said at the Tatra congress in Bratislava on Friday (28 October). “Be it a hard Brexit or a soft Brexit, this cannot go on next Brexit. Those who think that next Brexit things can be just as before are making a major mistake”, he added.

  • The EU has warned that France will not be allowed to exceed the 3% deficit target again

    FRANCE, 2016/09/12 Nobody from presently on knows the winner of France’s presidential election next year, but the smart money is on one loser: The 3 % cap on government deficits enshrined in eurozone rules. A bedrock of euro stability for some, the requirement to keep government deficits to below 3 % of gross domestic product (GDP) is seen by a lot of as an insufferable straight-jacket on governments wanting to spend their way out of economic sluggishness. A lot of French politicians, on the left and right, wonder aloud whether France should start ignoring the EU Commission and 3 % defenders, inclunding powerhouse Germany, and break free.

  • Paris prepares incentives to attract finance jobs from London

    FRANCE, 2016/07/10 The French government will outline incentives on Wednesday to make Paris a additional attractive financial centre, officials said, as the French capital seeks to win finance jobs from London for a post-Brexit era. France's financial sector has often complained of government ambivalence towards the industry, which is subject to high taxes and sometimes hostile remarks from politicians.

  • France Consumer confidence remains stable in December,

    FRANCE, 2016/01/17 The consumer confidence indicator elaborated by the National Statistics Institute (INSEE) remained stable in December at November’s 96 points. The result slightly overshot the 95 points the markets had expected. As a result, the consumer confidence indicator remained below its long-term average of 100. In its statement, INSEE pointed out that the result came on the back of an development in consumers’ opinions regarding their next financial prospects over the previous month, which offset a deterioration in households’ completed financial situation. Household’s saving capacity remained virtually stable over the previous month.

  • France: Fluctuat nec mergitur

    FRANCE, 2016/01/03

  • Europe in 2016: Terror fears, migration, politics. But economy may turn a corner

    ALBANIA, 2016/01/02

  • Global growth will be disappointing in 2016: IMF's Lagarde

    AFGHANISTAN, 2016/01/02 World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday. IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide. Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.

  • France’s main CGT union launches ‘32-hour working week’ campaign

    FRANCE, 2015/10/22 France’s 35-hour week may by presently be the envy of workers in other Western nations, but France’s major labour union says it should be reduced. The General Confederation of Labour (CGT) has launched a campaign to reduce France’s legal working week from 35 to 32 hours, insisting the move would save existing jobs and create new ones in the country. “Shorter working hours are a historical fact,” linked to “higher levels of productivity and better work management", Mohammed Oussedik, a CGT union organiser spearheading the campaign, told a press conference on Tuesday.

  • Tsipras has not only agreed to all the terms he before called "blackmail",

    FINLAND, 2015/08/02 German Finance Minister Schaeuble claims that he raised the possibility of a Greek exit to push for an alternative, and he did so with backing of the Merkel government. He used the threat of a violating the "irreversible clause" of the EMU Treaty as a cudgel to beat Greek Prime Minister Tsipras into submission. It appeared to work. Tsipras has not only agreed to all the terms he before called "blackmail", but he agreed to essentially implement all the before agreements since the crisis began and additional. There is a powerful argument that believes that Germany crossed an significant line. As Wolfgang Manchau wrote in the Financial Times, "They have destroyed the Eurozone as we know it and demolished the idea of a monetary union as a step towards a democratic political union...They demoted the Eurozone into a toxic fixed exchange-rate system, with a shared single currency, run in the interests of Germany, held together by the threat of absolute destitution for those who challenge the prevailing order."

  • Revised IMF forecasts signal gloom on global economic outlook

    AFGHANISTAN, 2015/01/20 Low oil prices will not provide a sufficient updraught to dispel the clouds hanging over the world economy, the International Monetary Fund said on Tuesday. In a sign of its increasing gloom about the medium term economic outlook, the IMF cut its world economic increase forecasts by 0.3 % points for both 2015 and 2016, despite believing cheaper oil represents a “shot in the arm”.
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