Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Moscovici Says Immediate Cut in French Labor Cost Isn’t Possible

Oct. 29 (Bloomberg) -- French Finance Minsiter Pierre Moscovici said the government won’t be able to deliver an immediate cut in labor costs because its deficit-cutting effort is more important.

The company chiefs’ “main demand is for an immediate reduction in the cost of labor,” Moscovici said today on Europe 1 radio. “I don’t think that’s possible because of the historic effort we’re making on the deficit.”

President Francois Hollande’s work to restore French competitiveness will take time, he said.

“It’s about the direction,” Moscovici said. “France’s situation cannot be repaired in several months,” he said, adding that the government is not seeking a confrontation with company bosses but a dialogue.

To contact the reporter on this story: Mark Deen in Paris at markdeen@bloomberg.net

To contact the editor responsible for this story: Mark Deen at markdeen@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.