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French economy minister Macron quits

BusinessDay
1 Min Read

French Economy Minister Emmanuel Macron has resigned from the government ahead of an expected centrist bid for the presidency in next year’s election.

The 38-year-old former investment banker has been a controversial figure in Socialist President Francois Hollande’s government.

He has questioned France’s 35-hour work week and blamed high unemployment and weak economic growth on a lack of competitiveness.

He will be replaced by Michel Sapin.

The move was announced by Mr Macron himself in a message to supporters, and by the French presidency.

However, Mr Macron stopped short of formally declaring a 2017 presidential bid.

In a speech to ministry staff, he said he had resigned to focus on drawing up a “diagnosis” of the country’s problems.

“I am determined to do everything so that our values, our ideas, our actions can transform France as soon as next year,” he added.

 

BBC

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