FX & Money Markets

Macroeconomics, monetary policy, FX and money markets
Big play for French finance minister interview

Big play for French finance minister interview

In a hard-hitting interview with Reuters, French Economy Minister Christine Lagarde revealed that for the first time that the government might revise up its growth forecasts and that the budget deficit was bound to come in larger than expected. She also said Frances car scrappage scheme, which has helped support the economy and car makers through the financial crisis, would continue into 2011, and not be scrapped next year. Her comments also gave the first hint that Bank of France governor Christian Noyer is likely to be reappointed. Speaking ahead of the G20 finance leaders meeting, she also outlined Frances agenda and said that many leaders, including Britain`s Gordon Brown, had shifted towards the French position on banking.The joint TV and text interview was widely picked up by competitor financial news agencies and used by French newspapers.

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