Sarkozy holds pre-Budget meeting to avoid downgrade

first_img whatsapp Sarkozy holds pre-Budget meeting to avoid downgrade Show Comments ▼ More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this Thursday 19 August 2010 8:58 pm FRENCH President Nicholas Sarkozy will today attend an emergency meeting with finance minister Christine Lagarde and Prime Minister Francois Fillon to discuss the state of the French economy.The meeting comes ahead of the September Budget and shortly after Moody’s reaffirmed France’s Aaa rating but said that its “distance to downgrade” was shorter than it had been.The government has said it will lay out plans to cut the deficit from 8.2 per cent to six per cent of GDP, partly through raising the retirement age from 60 to 62 and delaying the onset of full benefits two years to age 67. In the context of what Moody’s calls “brittle market confidence”, sending a strong and credible signal on deficit reduction will be vital. But economists are sceptical about Sarkozy’s ability to deliver. Dismissing today’s meeting as “PR exercise”, Lombard Street Research’s Gabriel Stein adds: “It’s politically fraught and Sarkozy has not shown he’s prepared to move strongly with unpopular measures. He’s a wimp.”Like the rest of Europe, France has to choose between stimulating the economy and reducing spending. It is widely expected to experience a slowdown in the second half of 2010 and into 2011, resulting in a consensus growth forecast of 1.4 per cent for 2010. whatsappcenter_img KCS-content Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoBetterBe20 Stunning Female AthletesBetterBeUndoCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndo Share Tags: NULLlast_img

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