French Economy Minister Says Austerity Measures Sapping Growth
Austerity measures being pursued by France and elsewhere in the euro zone are quashing growth, French Economy Minister Arnaud Montebourg was quoted saying on Saturday, renewing his attacks on policies he sees as negative for the economy. Montebourg’s interview with Le Monde daily came days after President Francois Hollande said he would accelerate reforms but not back away from his supply-side economic policy, based on bigger tax cuts for business.
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