Former ECB President Says French Cabinet Reshuffle Positive

The cabinet reshuffle taking place at the heart of the French government will restore confidence and help to maintain the course of reform plans, according to Jean-Claude Trichet, the former president of the European Central Bank (ECB) and the former governor of the Bank of France.
Trichet said that the changes were “absolutely necessary” after the extreme aggression showed by some of the former members of the cabinet and rejected the idea that it wouldn’t make a difference to France’s stagnating economy.
“I think there is a lot of confidence,” he told CNBC Wednesday. “Now we have a clear line and of course.”

In France on Tuesday, President Francois Hollande named a new lineup for his cabinet after left-wing rebels were ejected from their positions on Monday. The most significant and surprising appointment was that of Emmanuel Macron, a former Rothschild banker and ex-presidential economic adviser to Hollande.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza