Don't miss

Replay


LATEST SHOWS

BUSINESS DAILY

Trump says he won't scrap NAFTA right away, opens negotiations

Read more

IN THE PAPERS

Barack Obama under fire over $400,000 speaking gig

Read more

IN THE PAPERS

Teacher's pet vs party girl: Macron and Le Pen's younger years

Read more

EYE ON AFRICA

Hissene Habré trial: Senegal court upholds life sentence for Chad's ex-leader

Read more

MEDIAWATCH

Trump's first 100 days, Simpsons style

Read more

THE DEBATE

The New Normal: Trump's first 100 days in office (part 1)

Read more

THE DEBATE

The New Normal: Trump's first 100 days in office (part 2)

Read more

THE CAMPAIGN BEAT

French high school students make their voices heard while Le Pen goes fishing

Read more

FOCUS

Burma's citizens still jailed for speaking their minds

Read more

France

Launch of national loan set for start of 2010, PM says

Text by FRANCE 24 (with wires)

Latest update : 2009-06-29

The large-scale national loan outlined by French President Nicolas Sarkozy for financing domestic projects will be created at the beginning of 2010 and will help finance France's future, Prime Minister François Fillon (centre) said on Sunday.

The large-scale national loan outlined by French President Nicolas Sarkozy for financing domestic projects will be created at the beginning of 2010, Prime Minister François Fillon announced on Sunday. Fillon emphasised that the loan was not a second recovery package but rather an investment in France's future. 

 

"[The fund] will serve to outline our vision for France, that is to say, a post-financial crisis France," he said after a government meeting at the premier's head office at Matignon.

 

Regarding further discussions on the specifics of the fund that are set to begin on Wednesday, he pledged that the "great debate" over them would be concluded within the first two weeks of November and followed by the passage of better legislation to govern the nation's finances.

 

As to the "national priorities" that will benefit from the fund, Fillon said financing would be focused on projects that lend themselves to concrete, "targeted" plans with obvious financial and socioeconomic advantages. He cited sustainable development and ecologically sound ventures as possible examples, along with improvements and modernisations of the university system.

 

The premier warned, however, that the fund would not act as a "miracle solution" to all of France's budgetary problems.

 

In an attempt to quell fears that a national loan would simply mask the state’s massive debt, Fillon assured that France will also cut public spending at the same time as the loan is launched.

 

According to an Opinion Way survey, 56% of the French population is opposed to the idea of a national loan. 82% claim they don’t intend to subscribe to it.
 

 

Date created : 2009-06-28

COMMENT(S)