Now Playing: LaGarde la prochaine ministre a remplacer, eviter AAA-rating degradation ?
Topic: Politics
"Growth at 2.5% is imaginary, nobody believes in that," said Philippe Marini, the chief rapporteur of the French senate's finance commission.
When figures from national statistics agency Insee last week showed 0.6% GDP growth, Finance Minister Christine Lagarde greeted the news as "magnificent," much better than expected, and evidence the French economy had entered a "virtuous circle."
French Finance minister said work less spend more to Germans
the French did it, now the result no money, no financing of debt
Ms. Lagarde said on the day of the publication that wasn't on the day's agenda and would wait until the budget preparations.
Laziness, financial stubborn behavior or arrogance ? Lagarde a selection that scares international forecaster's opinion. Trustworthy or phantasie of the past ?
The finance ministry has said it would revisit its 2.5% forecast for 2011 in the preparation of the budget and once the second-quarter growth figures were known, but Ms. Lagarde said on the day of the publication that wasn't on the day's agenda and would wait until the budget preparations.
The pressure has been ramped up in recent days after a report from credit ratings agency Moody's said that although the triple-A ratings of countries including France are well positioned, they were much closer than they had been to a downgrade. The report identified two weaknesses of French public finances: a high initial level of tax pressure and rigidities of expenditure.
