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REPEAT: French FinMin - Macron's Reforms Welcomed At G20, IMF

MNI (London)
Repeats Story Initially Transmitted at 14:24 GMT Oct 15/10:24 EST Oct 15
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
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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