France Hits Companies and Wealthy to Tackle 'Colossal' Debt Pile [Financial Post (Toronto, Ontario, Canada)]
COMMERZBANK JUNGE ADR NEW (CRZBY)
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Source: Financial Post
and rebuild investor confidence even as it risks eviction by a hostile parliament. Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — The French government unveiled a budget for next year that aims to deliver a €60.6 billion ($66.2 billion) remedy for its creaking public finances and rebuild investor confidence even as it risks eviction by a hostile parliament. Spending cuts will account for just over two thirds of what Finance Minister Antoine Armand called an unheard-of fiscal effort, with the rest coming from higher taxes on businesses, the wealthy and energy. “Our country is in an unprecedented situation and at a pivotal moment,” he told reporters during a presentation of the delayed draft bill on Thursday. “The French economy is holding up, but our public debt is colossal. It would be both cynical and fatal not to see it, say it and recognize it.” The 2025 budget is a crucial part of Prime
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