Keyword: French Treasury

Mystery of French minister's massive Air France pay-off

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Top civil servant and Armed Forces minister Florence Parly. © Reuters Top civil servant and Armed Forces minister Florence Parly. © Reuters

A French government minister's declarations of her past income have shed a stark light on the system of privileges enjoyed by an elite group of civil servants in France. That system allowed Florence Parly, a career civil servant who is now minister for the Armed Forces, to take up lucrative jobs outside the civil service without ever risking her security of employment. She even managed to negotiate a golden handshake from Air France worth around half a million euros. Laurent Mauduit reports.

Why France still controls ex-African colonies' currency

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A Franc Zone banknote. A Franc Zone banknote.

France's African colonies were finally given independence around 70 years ago but one throwback to that era still remains – control by Paris of its former colonies' currency. The 'CFA franc', guaranteed by the French Treasury, is the legal tender in 14 west and central African nations. As Fanny Pigeaud reports in the first of two articles, many African economists are critical of the 'Franc Zone', which many feel holds back economic development.