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France Rejects Austerity With Gradual Repair of Finances
Bloomberg 3 hrs ago William Horobin
(Bloomberg) France will only gradually repair the damage to its public finances from the pandemic, avoiding austerity measures that would hurt economic growth, according to a long-term fiscal plan.
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The budget deficit won’t fall below 3% of gross domestic product until 2027, the finance ministry said. While progress could have been faster, targeting a drop below 3% in 2025, that would have involved major spending cuts and tax increases, an official at the ministry said.
“We mustn’t make the error of 2009 when we tried to immediately repair public finances,” Finance Minister Bruno Le Maire said Friday on Sud Radio. “We need to do it at the right moment that doesn’t kill the return of growth.”
מפיקים לקחים מנזקי הסגרים: מדינות בעולם נותנות עדיפות עליונה לפתיחת מערכת החינוך themarker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from themarker.com Daily Mail and Mail on Sunday newspapers.
France Aims to Exploit Brexit to Grab More British Finance Jobs Bloomberg 2/26/2021 Ania Nussbaum
(Bloomberg) As the U.K. drifts further away from Europe, one of French President Emmanuel Macron’s closest aides wants to convince people in Britain and France that the European Union is always the best option.
That involves championing cities like Frankfurt, Amsterdam and, most of all, Paris as they try to seize as many of the jobs leaving the U.K. as possible.
So far, the predicted flood of financial jobs hasn’t materialized, although some banks have made a move. “We can do better,” Clement Beaune, junior minister for EU affairs, said in an interview on Wednesday. “It’s not over.”
Bad Weather Slows Shots; U.S. Vaccine to Double: Virus Update Bloomberg 2/18/2021 Bloomberg News
(Bloomberg) The U.S. vaccine supply is poised to double in the coming weeks and months, according to an analysis by Bloomberg, allowing a broad expansion of doses administered across the country.
Winter storms in the U.S. continue to slow the vaccination drive, including in New York City, Florida and Puerto Rico. Anthony Fauci, the nation’s top infectious disease doctor, said inoculations have come to a “grinding halt” in some places. Massachusetts said it might send National Guard troops to pick up its next vaccine shipments.