Macron Tells French CEOs to Avoid Defeatism, Take Responsibility

French Economy Minister Emmanuel Macron told French executives that they must avoid defeatism about their country’s prospects and to take their share of responsibility for the state of the economy.

“It’s not the fault of politicians if companies haven’t invested enough,” Macron told the annual conference of the Medef business lobby near Paris.

Macron said the government’s plan to cut public spending to 50 percent of gross domestic product by 2022 is “credible” and that promises on 40 billion euros in tax cuts for business will be maintained until the next election in 2017. The lower taxes amount to a contribution equal to 2 percent of GDP to business, he said.

“Who can honestly say that nothing has changed?” Macron asked the audience. “Those who pretend that what is being implemented isn’t having an impact are wrong.”

Before it's here, it's on the Bloomberg Terminal. LEARN MORE