MNI: French FinMin Says Macron's Reforms Welcomed At G20, IMF

By Tara Oakes

     WASHINGTON (MNI) - France's labour market reforms have been welcomed by

participants at international meetings in Washington in recent days, French

Finance Minister Bruno Le Maire told reporters.

     "All the reforms were hailed by the members of the assemblies I attended,"

Le Maire told a press conference.

     President Macron's tweaks to the French labour market have not won him

favourable ratings back home, but many abroad are hoping that they will revive

the sluggish economy.

     Le Maire said there was "not a moment to lose" on opportunity for reform.

     "Status quo is not an option for Europe," he said.

     French central bank governor Francois Villeroy de Galhau agreed,

translating John F. Kennedy's: "The time to repair the roof is when the sun is

shining" into French for his audience.

     Le Maire also said that he was "satisfied" with the reception he had got in

the States for the EU's renewed push for taxing digital giants.

     "I come back satisfied with the advances we have made on this in

Washington," the minister said, adding that a technical working group had been

set up with U.S. partners.

     An initiative co-signed by France for a "quick fix" solution to taxing

digital companies has added momentum to European calls for a solution on the

issue.

     But with it primarily targeting U.S. firms, international cooperation will

eventually be needed for a more durable approach.

--MNI Brussels Bureau; +44 203-865-3851; email: tara.oakes@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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