MARKET NEWS
26 August 2014
French government was dissolved
The French government was dissolved on Monday amid turmoil among top ministers.
It happened as from Economy Minister Arnaud Montebourg called for a major reorientation of economic policy in a country where growth has stalled and unemployment remains high. Montebourg’s comments were seen as a challenge to the authority of President Francois Hollande and Prime Minister Manuel Valls. Hollande asked Valls to form a new government, which will be announced on Tuesday.
Francois Hollande has the record low approval ratings of any French President. Valls’ popularity has also declined in recent opinion polls.
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FX BAZOOKA - French government was dissolved