(Boursier.com) – The executive director of the International Monetary Fund (IMF) keeps the pressure on France to step up its reforms and reduce its budget deficit. In an interview published this morning in ‘Les Echos’, Christine Lagarde urged the government to act as “structural reforms that generate growth (are) really quickly and fully implemented.” In addition, it is estimated that currently, “there is no excessive austerity in the euro zone,” where the pace of deficit reduction “seems appropriate in each country.”
France, the IMF boss is pleased that the executive is considering legislation by order to move faster. “All that is likely to accelerate the implementation of real reforms background moving in the right direction”, but “now we must” deliver “, as the Americans say, that is to say turn words acts “, urges Christine Lagarde.
On the reduction of public spending, Christine Lagarde is strict face the temptations of France to further postpone its goal of bring the budget deficit below 3% of GDP from 2015 to 2016 or 2017 … “We must stay the course of the reduction in public spending,” warned the ruling, which criticizes the argument of Michel Sapin, the Minister of Economy of invoking low inflation. For the director of the IMF, “even if inflation is lower than expected, it can not be used as a screen to see the effort on spending.” Michel Sapin had said last week that “we can not have the same goals (savings) with inflation becomes very weak.”
The IMF chief also called on France and throughout the euro area “to tackle the shackles of labor regulations.” It also welcomed the start of construction of the liberalization of regulated professions in France.
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