French business group calls left-wing plan dangerous for economy: echoes


(Bloomberg) — The head of France’s business lobby Medef said the platform of the alliance of left-wing parties, which won the most seats in parliamentary elections this month, poses a danger to the economy.

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In an interview with the French daily Les Echos, Patrick Martin added that since the French president Emmanuel Macron In June, parliament was dissolved, decisions on investments and hiring were postponed, and venture capital fundraising was halted.

Carrying out the program of the left-wing alliance known as the New Popular Front “would be fatal for the French economy and our downfall,” Martin said.

A complex split in France’s National Assembly has set the stage for unprecedented dealmaking in an attempt to form a lasting coalition that could govern the country. While the New Popular Front — which includes the Socialists, the Greens and the far-left France Unbowed — has more lawmakers than Macron’s party or the far-right Rassemblement National, it is far from an outright majority.

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