Keyword: Pierre Moscovici

French finance minister says he will change corporate tax plans

Pierre Moscovici says that the widely-criticised planned new business tax will be replaced by a temporary increase in existing corporation tax.

France cannot take any more taxes, government admits

But promise comes as minister announces creation of "carbon tax" and amid reports that overall tax burden on French will rise next year.

French finance minister denies revision to 2013 growth forecast

Pierre Moscovi says there is "no change" in the country's growth forecast, after he gave an interview suggesting the figure had been revised downward.

France needs both reform and growth, says minister

At meeting in Germany, finance minister Pierre Moscovici says Paris still committed to getting finances in order, but not at expense of growth.

France declares austerity over as Germany offers wiggle room

French finance Minister Pierre Moscovici said the 'dogma of austerity' as the only tool to fight the euro debt crisis was over.

'There was no cover-up': French finance minister Moscovici on his role in the Cahuzac scandal

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Pierre Moscovici © Reuters Pierre Moscovici © Reuters

French finance minister Pierre Moscovici is at the centre of allegations that the government was involved in a cover-up to support Jérôme Cahuzac after Mediapart revealed last December that the then-budget minister, leading a crackdown on tax fraud, held a secret bank account abroad. In this lengthy interview with Mediapart’s Laurent Mauduit and Martine Orange, Moscovici defends his role during the four months in which he stood by Cahuzac, despite the mounting evidence presented by Mediapart that his junior minister and one-time friend consistently lied about holding hidden funds abroad. Moscovici reveals that the former budget minister, who finally confessed earlier this month, after repeated denials, to holding the account, declined to provide a written statement requested by tax authorities last December as to whether he held or not a secret account. But surprisingly that did not cause alarm among his colleagues. “Faced with the firmness and the number of his denials,” Moscovici says, “I had the tendency and the wish to believe Jérôme Cahuzac.”  

French finance minister confirms 0.1% growth this year

French finance minister Pierre Moscovici revises downward a previous estimate of 0.8 percent growth in 2013 as economy struggles.

France asks Germany for leniency in hitting austerity goal

France pleads for more time but denies it is turning into the new “sick man of Europe” even as data points to a deepening French downturn.

President Hollande tries to restore his authority after political earthquake of Cahuzac confession

In a brief pre-recorded television appearance President François Hollande sought to regain the political initiative after the damaging and hugely embarrassing admission by his former budget minister Jérôme Cahuzac that he did have a secret Swiss bank account. However, two of the three policy proposals unveiled by the president to prevent further scandals had already been announced and the third may face constitutional obstacles. Meanwhile the opposition says the president failed to answer key questions about his own role in the Cahuzac affair, as pressure also mounted on another key government figure, finance minister Pierre Moscovici.

Hollande unveils softened French bank reform

Ministers hail it as model for the rest of Europe as critics say it falls short of president's campaign pledge to get tough with financial sector.

French quarterly growth stuck at zero

Economy needs to start growing again and quickly for France to meet its budget deficit targets, after latest forecasts from statistics agency Insee.

France set to ease 2013 tax hikes on small business

Government may ease the impact of tax hikes in the 2013 budget after a chorus of complaints by French entrepreneurs, says finance minister.

France and Britain 'agree on eurozone bank supervision'

France and the UK agree EU plan for the European Central Bank to supervise eurozone banks, with London taking part in decision-making process.

Why 'bailout' of French cheap mortgage lender CIF was another gift to big banks

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Last weekend, the French government announced it had agreed to issue a state guarantee for Crédit Immobilier de France, a major cooperative-owned mortgage lender for low-income households. The bank ran into severe liquidity problems because of its structural dependence on what was cheap financing from the credit market. The new soicialist government’s move was widely portrayed as a rescue of the troubled mortgage lender. But nothing could be further from the truth, argues Mediapart’s economics and finance correspondent Philippe Riès. CIF is to be run down, with serious consequences for jobs and modest house-buyers, while the real winners of the guarantee are the big banks. For they have escaped helping in a bailout and are now sure their loans to CIF will be repaid.

France cuts fuel prices to boost economy

Government has struck a deal with fuel suppliers to cut petrol and diesel prices by 6 euro cents a litre for the next three months.