Economics

Eurozone’s Greek Strategy Is Flawed: Piketty

It would be a catastrophe for the Eurozone if Greece were pushed out," Thomas Piketty, France's 'super economist' told over 30 members of the AAPA, as it would "spell the beginning of the end for the single currency".   Mr. Piketty, author of the best-selling book 'Capital in the 21st century,' met with over 30 AAPA members at the Paris School of Economics where he gave his views on…


French Finance Minister Urges UK to Stay in EU

  Britain and the European Union as a whole would lose out if the U.K. were to opt to leave the EU, French Finance Minister Michel Sapin has warned.   “If the UK forfeits its place in the EU, then Europe would be weakened and the UK would also be worse off. It has to stay in,” he told over 20 AAPA members over breakfast at the Finance Ministry on Nov. 20.   “But the British will…


Pascal Lamy Doubts Trade Sanctions Against Russia's Putin Will Change Much

As the US and the EU consider tougher, coordinated  economic sanctions against President Vladimir Putin's annexation of Crimea and possible, similar plans for  other Russian-speaking regions, Pascal Lamy, who stepped down as head of the World Trade Organization last autumn, told members March 24 that sanctions have not worked in most previous cases and doubts they will work now.  …


Airbus CEO Hits Out at Boeing Over Subsidies

Airbus Chief Executive Fabrice Brégier slammed Boeing Co when he met with the AAPA on March 20, saying Boeing's planned 777X wide-body airliner is the most subsidised aircraft in the world.   The E.U. and the U.S. have been at loggerheads for years over claims and counter-claims of unfair subsidies for their commercial aircraft building champions, and are engaged in a protracted dispute…


French Minister Deplores Lack of Transparency in US-EU Trade Talks

During our third meeting with a minister from Bercy this year, Foreign Trade Minister Nicole Bricq gave the AAPA an exclusive insight into the government's foreign trade policy, while answering some tough questions on France's positions in the ongoing U.S.-Europe trade talks.   Hosting a lunch for 18 AAPA members on Nov. 15 on the top floor of the Finance Ministry, Mme. Bricq said the U.S.…


Finance Minister Spills the Beans on Growth Outlook

    Finance Minister Pierre Moscovici created news when he revealed exclusively to the AAPA on Feb.18 that the government was moving away from its earlier pledge to bring its budget deficit down to 3% of gross domestic product this year, arguing that Europe's recession had created an "exceptional" situation requiring less austerity.   The minister's comments were picked up widely…


New State Bank On The Prowl For Borrowers and Projects

Nicolas Dufourcq, the new head of the French government's Banque Publique d'Investissement, says that one of the greatest obstacles he faces is finding viable projects, not money. The state bank was created last year to help small and medium-sized companies overcome difficulties in obtaining financing from traditional sources of funding. At a lunch hosted by the bank for some twenty AAPA members…


Montebourg Hosts AAPA at Bercy

    Fostering the "reshoring" of French companies that have chosen to relocate overseas and encouraging French people to prefer products "Made in France," are just two of the tasks set for Industrial Revival Minister Arnaud Montebourg by President Francois Hollande, Mr. Montebourg told some 30 Anglo-American Press Association members on Jan. 8. During a lunch kindly hosted by Mr.…


Energy Will Never Be Cheap, CEO of French Oil Giant Total Tells AAPA

There is no danger of the world running out of oil and gas any time soon, but it will never be cheap, the head of France’s largest and most profitable company told more than 20 AAPA members at a breakfast meeting on Dec. 11. Christophe de Margerie, chief executive of French oil and gas giant Total SA, told us that new discoveries and technological advances have increased the oil industry's…


Former ECB Chief Discusses Euro Zone's Woes

Governments of the euro zone that are struggling to prevent the euro crisis developing into a full-blown depression are navigating in uncharted waters, Jean-Claude Trichet told the AAPA on June 27. The former head of the European Central Bank told two dozen AAPA members that the euro zone has successfully weathered three crises since the Lehman Brothers collapse sparked a financial maelstrom in…