Tuesday, February 19, 2008
Economy minister admits she is 'seduced' by idea of French SWF - Business News, Business - Independent.co.uk
[Source:Independent.co.uk]
Christine Lagarde, France's economy minister, may establish a French sovereign wealth fund to counter the rising power of the state-owned funds from the developed world.
In a debate on French television, Mme Largarde called the idea "seductive" and said she was thinking of creating a French fund. Such a move would represent an astonishing volte face from the country that has been one of the harshest critics of SWFs, many of which are controlled by Middle East and Asian governments in the developing world and have become increasingly active in Europe and America.
It was just a few weeks ago that President Nicolas Sarkozy was issuing stern warnings about the danger of these "extremely aggressive" funds and joining a chorus of European parliamentarians calling for the imposition of a code of conduct on SWFs. It seems now that France could take an "If you can't beat them, join them" approach.
Tunisia 2008 growth seen slowing to 5.7 pct - IMF
TUNIS (Reuters) - Tunisian growth is seen slowing to 5.7 percent this year from 6.3 percent in 2007 as weaker European markets affect exports, the International Monetary Fund said on Monday.
But strong inward foreign investment will underpin the North African country's economic performance, the Fund added after a visit by its officials...
Read More : [Source:Reuters.com]
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