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☆ Left and right prey on weak French government as it prepares 'austerity' budget
▼ + stars: | 2024-10-09 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

French Prime Minister Michel Barnier (C) ahead of his general policy statement to the French National Assembly in Paris on October 1, 2024. The budget is being widely previewed as an "austerity" budget that will see the government of new Prime Minister Michel Barnier present tax-hiking and cost-cutting measures that could rile opposition parties on both the left and right, and even the centrists that put him in power. In sum, Barnier's government is a fragile one and vulnerable to predatory challenges from the left and right of the political spectrum. But such a large dose of austerity may make even 1.1% growth difficult to achieve," he said in emailed analysis. "Finally, even if the budget is passed and does not dent economic growth too much, France's fiscal position would still be precarious.

Persons: Michel Barnier, Alain Jocard, Barnier, Antoine Armand, France's, —, La France Insoumise, Remon Haazen, Emmanuel Macron, Macron, Andrew Kenningham, Kenningham, Marine Le Pen, Carsten Nickel, Nickel, Tom Weller, voigt, Benoit Tessier Organizations: French, French National Assembly, EU, Afp, Getty, National Assembly, Finance, European Commission, Republique, La, Populaire, Capital Economics, Republicans, Stade de France, Olympic Games Locations: Paris, France, La France, Europe, French

☆ From the far right to fiscal challenges, France could lurch from one crisis to another
▼ + stars: | 2024-09-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +6 min

France's challenges are far from over, however, with the country facing acute fiscal challenges and an ongoing threat posed by the far-right National Rally opposition, led by Jordan Bardella and Marine Le Pen. France this week asked the Commission to extend its deadline of Sept. 20 to submit debt reduction proposals. Analysts say Barnier's political survival therefore "depends on the whims and personal-political calculations of Le Pen." "The great unknown ... is how far Le Pen will be willing to address the most immediate crisis facing Barnier and the country: the painful choices needed to prevent France from plunging into a destructive fiscal crisis by the end of this year," he said. Marine Le Pen and Jordan Bardella at the final rally before the June 9 European Parliament election, held at Le Dôme de Paris - Palais des Sports, on June 2, 2024.

Persons: La France Insoumise, Remon Haazen, Emmanuel Macron's, Michel Barnier, Jordan Bardella, Pen, Barnier's, Gabriel Attal, Sarah Meyssonnier, Reuters Barnier's, Macron —, Le, Mujtaba Rahman, France's, Eurasia Group's Rahman, Le Pen's Organizations: Republique, La, Getty, Getty Images, Veteran, National Assembly, European, France's, Reuters, New, National, Eurasia Group, Le, Palais des Sports, Nurphoto Locations: La France, Paris, France, Europe, Eurasia

☆ UK watchdog fines Equifax $13.4 mln for role in cyber breach
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

[1/2] Credit reporting company Equifax Inc. corporate offices are pictured in Atlanta, Georgia, U.S., September 8, 2017. The FCA said the hackers could also access the personal data of 13.8 million UK consumers because the data was stored on company servers in the United States. Equifax Ltd had outsourced data such as names, dates of birth, Equifax membership login details, partially exposed credit card details and addresses. "Few companies have invested more time and resources than Equifax to ensure that consumers’ information is protected," Remon said. "There were known weaknesses in Equifax Inc’s data security systems and Equifax failed to take appropriate action in response to protect UK customer data," it said.

Persons: Tami Chappell, rater Equifax, Equifax, Patricio Remon, Remon, Huw Jones, David Evans, Mark Potter Organizations: Equifax Inc, REUTERS, Financial Conduct Authority, FCA, Equifax, Europe, Commissioner's, Thomson Locations: Atlanta , Georgia, U.S, United States, Equifax

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