| Home
French finances in trouble
Beijing News.Net
Sunday 23rd September, 2007
European Central Bank head Jean-Claude Trichet says France's public finances are in very great difficulty.
Trichet said in an interview on Europe 1 radio that the deficit was becoming a heavy drag on the economy of France.
Regarding the squeeze on credit sparked by the U.S subprime crisis, Trichet said the ECB had taken the right decision by pumping tens of billions of euros to facilitate inter-bank lending in global money markets.
He added that there were lessons to be learned from what was happening and that those who had taken unwise risks should be punished.
Since coming to power in May, French President Nicolas Sarkozy has caused Mr Trichet to worry over his plans to cut taxes in order to stimulate economic growth.
Eurozone finance ministers committed in April to balance their budgets by 2010, but Sarkozy warned in July that as a result of his plans this goal might not be achieved until 2012.
 Email this story to a friend
Have your say on this story
|
 |
 |
- China has 176.5 million motor vehicles, 188.8 million drivers
Beijing, July 4 : With more than 176.5 million motor vehicles in the country, a whopping 14 percent of Chinese nationals have obtained a driving licence, the Chinese Ministry of Public Security has revealed. [read story]
- Lanka denies arms deal with China
Beijing, July 4 : Visiting Sri Lankan Foreign Minister Rohitha Bogollagama has denied that his country has inked an arms deal with China. [read story]
- Swine flu patient dies of electrocution in China
Hangzhou (China), July 3 (Xinhua) A patient suffering from influenza A (H1N1), better known as swine flu, died of electrocution when she was taking a shower in a hospital here, the police said Friday. [read story]
- Toad captured on camera while eating snake in China
Melbourne, July 3 : In a rare case of a predator hunted by its prey, a toad has for the first time been captured on camera while eating a whole snake in just five minutes. [read story]
- UNESCO backs G8 on condemnation of Iran crackdowns
Protesters have taken to the streets following the 12 June presidential poll. [read story]
|
|
 |
 |
|
|
