InfoAnda - Hollande stakes credibility on 2013 French budget |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Bollywood union boycotts Australia over attacks | 5 June 2009
Jackie Chan voted vice chairman of China film body | 30 December 2008
India's PM concedes to new probe into telecom scam | 22 February 2011

Tokyo lights provide setting for last Cannes films | 24 May 2009

Forum Views () Forum Replies ()

Read more with google mobile : Hollande stakes credibility on 2013 French budget |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Aerospace & Defense Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Campaign Polling Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Nader Mousavizadeh Lucy P. Marcus David Cay Johnston Bethany McLean Anatole Kaletsky Reihan Salam Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Jack & Suzy Welch Frederick Kempe Christopher Papagianis Mark Leonard Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (0) Full Focus Editor's choice Our best photos from the last 24 hours. Slideshow Images of August Follow Reuters Facebook Twitter RSS YouTube Read Minneapolis gunman kills four, shoots himself 2:19am EDT California man behind anti-Muslim film jailed over probation 12:44am EDT One certain forecast in U.S. poll dispute: more acrimony ahead 1:25am EDT British, Chinese among 19 dead in Nepal plane crash 3:36am EDT U.S. call for "cool heads" in China-Japan island dispute goes unheeded 4:00am EDT Discussed 149 Netanyahu to press for Iran ”red line” in U.N. speech 127 Iran ready to defend against Israeli attack: Ahmadinejad 124 Egypt Salafi urges U.N. to criminalize contempt of Islam Sponsored Links Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption World of tourists A look at globe-trotting travelers on World Tourism Day. Slideshow The war on polio Worldwide cases of polio have fallen 99 percent since 1988. Slideshow Hollande stakes credibility on 2013 French budget Tweet Share this Email Print Related News French 2013 GDP could top 0.8 percent if Europe steadies: finance minister 4:07am EDT Analysis & Opinion Americans canâ€™t feel better than companies forever Don’t panic about the fiscal cliff Related Topics World » France » France's President Francois Hollande speaks during a news conference after his speech at the 67th United Nations General Assembly at the U.N. headquarters in New York September 25, 2012. Credit: Reuters/Eduardo Munoz By Daniel Flynn and Leigh Thomas PARIS | Fri Sep 28, 2012 4:07am EDT PARIS (Reuters) - President Francois Hollande puts his fiscal credibility on the line on Friday when he delivers France's toughest budget in 30 years in the face of a stagnant economy, record unemployment and plunging opinion poll ratings. The Socialist leader's first full budget, to be presented to the cabinet at mid-morning, must secure 30 billion euros ($39 billion) in savings to keep promises on cutting the deficit made as part of euro zone efforts to end the debt crisis. The belt-tightening, via tax rises for high earners and a freeze on spending, aims to cut the 2013 public deficit to 3 percent of annual economic output and bolster France's place as a euro zone power with Germany despite its record debt levels. "We need to get France back on the rails," Finance Minister Pierre Moscovici told Europe 1 radio, stressing that low and middle-income households would be largely shielded from tax rises that would hit only around one taxpayer in 10. "This budget is about struggle, about reconstruction," Prime Minister Jean-Marc Ayrault said late on Thursday, warning that France's bond yields - currently at record lows around 2 percent - would jump if it did not meet its 2013 deficit target. Economists, however, are concerned that the budget goals look ambitious, especially based on a 2013 economic growth forecast of 0.8 percent that is widely seen as over-optimistic. Moscovici said that if Europe's economic crisis steadied, French growth could exceed 0.8 percent next year. But data on Friday confirmed zero growth was posted in the second quarter, marking nine months of stagnation, as a pickup in business investment and government spending was offset by a worsening trade balance and sluggish consumer expenditure. Despite a rise in wages, consumers - traditionally the motor of France's growth - increased their savings to 16.4 percent of income from 16.0 percent a year earlier, amid concern about unemployment which is at a 10-year high and rising. In another setback for Hollande's finance team, other data showed the public debt rose to 91 percent of GDP in the second quarter, the highest level in post-war France, and consumer spending dropped 0.8 percent in August. "Altogether the data paint the picture of a stagnating economy," said BNP economist Dominique Barbet. GROWTH, CREDIT RATING AT RISK Friday's budget bill is expected to lay out 10 billion euros in expected new revenues from extra taxes on mainly well-off households and another 10 billion from either corporate tax rises or cuts to existing tax breaks. Fulfilling a campaign promise, the budget is expected to slap an upper tax rate of 75 percent on income above 1 million euros, and a new rate of 45 percent above 150,000 euros. These measures will raise a relatively modest half a billion euros but they have prompted predictions of a flight of business talent from France. A further 10 billion will come from keeping a lid on central government spending, continuing a policy of replacing only one in two retiring civil servants and postponing spending. Calls from some economists for broader cuts will be ignored. Hollande's promise to cut the deficit to 3 percent of gross domestic product from 4.5 percent this year is a step towards his promise to balance the budget in 2017. BNP Paribas economist Helene Baudchon said the deficit was likely to come in above 3.0 percent due to the weak growth outlook. "As things stand, achieving a deficit of 3.3 percent would in itself be a remarkable outcome," she said. Any sign of wavering could not only prompt financial markets to rethink their attitude towards France, in terms of low bond yields, but also trigger further downgrades after Standard & Poor's stripped France of its triple-A rating this year. At the same time, the state belt-tightening risks putting further pressure on an economy which has stagnated over the last three quarters to teeter on the brink of recession, while the unemployment rate has risen to a 13-year high above 10 percent. Below-target growth could mean Hollande - whose approval ratings have slid as low as 43 percent since his May election - may have to seek more painful savings to meet his deficit goals. "It's a big risk, because it's possible that, as they try to reduce government spending and return to a balanced budget, they have a negative impact on growth," said Christopher Bickerton, an associate professor at Paris' Sciences Po university. ($1 = 0.7775 euros) (Additional reporting by Catherine Bremer and Brian Love; editing by Mark John and David Stamp) World France Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Friday, 28 September 2012
U.S. temporarily reduces more staff from Libya embassy |
Militants attack Iraq jail, free prisoners |
Clinton urges cool heads in China-Japan island dispute |
Sudan, South Sudan sign deals to restart oil, secure border |
Yemen should repeal Saleh immunity, open inquiry: HRW |
French minister pledges zero tolerance for Islamists |
China's dorm room discontent emerges as new labor flashpoint |
RIM reports quarterly loss but cash pile grows |
Real gifts sold on Facebook as site taps commerce potential |
Demand for Apple's iPhone 5 lights up China's online market |
Accenture forecasts full-year earnings above estimates |
Amazon offers loans to its online sellers |
U.S. and Russian experts turn up volume on cybersecurity alarms |
Micron fourth quarter misses estimates as sales fall |
Whitney Houston's legacy to be celebrated in Grammy salute |
Reese Witherspoon delivers third child, a boy named Tennessee |
Amanda Bynes pleads not guilty in two hit-and-run cases |
Original Mona Lisa given Geneva launch |
Hollande stakes credibility on 2013 French budget |
Netanyahu draws red line on Iran's nuclear program |
British, Chinese among 19 dead in Nepal plane crash |
Kenya troops fight on beaches in assault on Somali rebel city |
Former finance minister Steinbrueck to challenge Merkel: paper |
U.S. call for cool heads in China-Japan island dispute goes unheeded |
Indonesia's Aceh revokes palm permit after legal challenge |
Two-hour power blackout halts Azeri capital |
RIM surprises with cash boost and resilient sales; shares surge |
Google obeys Brazilian court order, blocks YouTube political video |
Exclusive: Groupon reshuffles execs, seeks to fix Europe business |
U.S. cyber warrior accuses China of targeting Pentagon |
U.S. group studying breach at Schneider unit |
Banks stake $4.6 billion on Sharp bailout to recoup money |
Intel zeroes in on enterprise customers with first tablet wave |
Rowling obsessed with death, reads reviews later |
Rapper Lil Wayne breaks Elvis Presley's Billboard record |
Fifty Shades of Grey sparks marketing mania |
China seals Bo's fate ahead of November 8 leadership congress |
Netanyahu's Iran cartoon bomb timed to make big impact |
Steinbrueck surprise shakes up German election race |
Syrians moved some chemical weapons to boost security: U.S. |
Tropical storm Norman forms off Mexico's Pacific coast |
Norwegian mass killer's speech to hit German theatre |
Sudan, South Sudan agree on metering to avoid disputes |
Somalia, allies batter al Shabaab, but gains may be fragile |
Greece's 2013 budget to deepens cuts, sustain recession |
Appeals court sends Galaxy Tab injunction back to trial judge |
Nokia cuts smartphone prices before new models arrive |
Apple's Cook apologizes for Maps flaws, recommends rivals |
RIM buys itself breathing room for BB10 launch |
T-Mobile USA in $2.4 billion tower deal with Crown Castle |
Tablets, Turtles make most wanted holiday toy list |
Sharp says making adequate volumes of display used in iPhone5 |
Kodak to stop selling inkjet printers from 2013 |
Judge dismisses defamation lawsuit against actor John Travolta |
No press complaint over UK Prince Harry's naked pictures |
Christie's offers Bond items on 50th anniversary |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01