PARIS (Reuters) – France slashed its growth forecasts for both 2014 and 2015 on Thursday and said it would miss its public deficit target this year after data showed the economy delivered no growth at all for the second quarter in a row.
Setting the stage for tricky negotiations with EU partners on public finances, Finance Minister Michel Sapin wrote in French daily Le Monde that the EU must adapt its deficit rules in light of the bloc’s weaker-than-expected economy.
BERLIN/PARIS, Aug 14 (Reuters) – Germany’s economy shrank in
the second quarter and France again managed to conjure up no
growth, data showed on Thursday, snuffing out any signs of a
recovery in the euro zone which is now weighed down by
tit-for-tat sanctions with Russia.
Europe’s largest economy contracted by 0.2 percent on the
quarter, undercutting Bundesbank forecasts that it would
stagnate, with foreign trade and investment notable weak spots,
the Statistics Office said.
PARIS, Aug 13 (Reuters) – ECB policymaker Jens Weidmann said
on Wednesday that euro zone monetary policy should not aim to
weaken the euro and individual member states should take steps
to boost growth, rebuffing French calls for Germany and the
European Central Bank to do more.
French President Francois Hollande, anxious to boost his
country’s stagnant economy, has recently beefed up calls for
Germany to invest more and act to lift growth in the whole euro
zone. France has also urged more ECB action to weaken the euro,
even after its recent softening, saying its strength hurts
PARIS (Reuters) – France’s top officials are preparing the ground for another failure to meet fiscal targets, using weak growth and inflation to seek leniency from European partners.
The government has promised to come clean on the state of the economy after the publication of second quarter GDP data on Thursday, which are expected to register barely any growth.
PARIS (Reuters) – France’s candidate for the European Commission Pierre Moscovici is convinced he will have an important economic portfolio, he told Reuters on Wednesday, rebuffing German concerns that France lacked the budget credibility to take such a job.
President Francois Hollande proposed his former finance minister on Tuesday to be France’s representative in the next European Commission, which takes office early November.
FRANKFURT/PARIS, July 9 (Reuters) – The European Central
Bank is hoping a new round of long-term loans will be used by
banks to drive down borrowing costs – a substitute for an
asset-purchase scheme of its own which would avert a potentially
damaging internal split.
The ECB unveiled the loans plan last month as part of a
package of measures to breathe life into a sluggish euro zone
economy, where inflation is running far below the central bank’s
target and there is a dearth of credit to smaller firms.
AIX-EN-PROVENCE, France, July 5 (Reuters) – Airbus Group
has not decided whether it will launch its proposed
A330neo jet at this month’s Farnborough Airshow but is confident
about the outlook for plane orders at the gala event, its
strategy chief Marwan Lahoud said on Saturday.
Airbus has drawn up plans to revamp its biggest-selling
wide-body passenger jet to preserve a second front in its
competition with the delayed Boeing 787 Dreamliner in addition
to the new A350.
PARIS (Reuters) – For the boss of General Electric, the trials and tribulations of doing business in France are summed up in the lyric of an old Rolling Stones’ song: “You can’t always get what you want, but if you try sometimes you just might find you get what you need.”
This pragmatic approach to one of the Western world’s most complex business environments, spelt out in a blog by Jeff Immelt to staff after GE (GE.N: Quote, Profile, Research, Stock Buzz) secured parts of Alstom’s energy business, highlights France’s uneasy investment image.
LUXEMBOURG, June 20 (Reuters) – The European Union will
review its fiscal rules at the end of this year to see if they
can be made simpler and more efficiently used to encourage
growth and jobs after years of budget consolidation.
Planned since the rules were tightened in 2011, at the
height of the debt crisis, the EU review will focus on whether
those changes have worked and if countries are now coordinating
economic policies better.
LUXEMBOURG, June 20 (Reuters) – The European Union on Friday
moved to close a loophole that has allowed multinational
companies to reduce their tax bills by exploiting differences in
national tax rules, ending months of negotiations and
potentially boosting EU states’ tax revenues.
Corporate tax avoidance has become a hot issue in
industrialised nations. Campaigners have drawn support from
public anger at companies avoiding taxes at a time of austerity.