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France adopts controversial set of economic reforms encouraged by EU

byCustoms Today Report
28/02/2015
in Uncategorized
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PARIS: France’s lower house of parliament did not pass a vote of no-confidence in the government Thursday, by default implementing a controversial set of economic reforms encouraged by the European Union and strong-armed through by Prime Minister Manuel Valls.

The motion failed with 234 in favour, significantly fewer than the 289 needed to clinch a majority.

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We will continue with all the means granted to us by the Constitution; we will continue tirelessly with reform” Valls said in an address to parliament prior to the vote.

The failure of the motion proposed by opposition parties, led by the conservative Union for a Popular Majority (UMP) party of former president Nicolas Sarkozy, means a series of measures aimed at liberalizing the French economy will go into effect.

The reform package was proposed by Economy Minister Emmanuel Macron and had been subjected to hundreds of hours of debate on the floor of the National Assembly.

Macron’s law, as the legislation has become known, sets out a series of measures to change sectors of the economy – such as the legal profession – and softens rules related to opening times for businesses, including allowing opening times on some Sundays.

It also laid out a plan to selling some state assets, including shares in provincial airports.

The legislation is aimed at spurring economic growth in France, which has struggled with mounting unemployment.

Supporters of the plan also aim to send a message to the EU that France is re-structuring some of the core elements of its economic regulations and taking seriously its commitment to lowering the government deficit.

But opposition groups, including traditional supporters of President Francois Hollande’s Socialists, said they would vote for the no-confidence motion in protest at the proposed reforms.

Tags: economic

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