French PM Pushes Through Reforms

The French prime minister has resorted to a rarely used emergency procedure to push through labour market reforms without a parliamentary vote.

Manuel Valls faced opposition from some MPs in his own Socialist Party, as well as Green MPs over the reforms.

The Socialists have a majority, but now face a confidence vote on Thursday. The reforms will be adopted automatically if the government wins the vote.

The plan is to scrap barriers in law firms and extend shop opening hours.

The reforms should make it easier for young people with law qualifications to get jobs as solicitors, bailiffs or court clerks.

Long-distance bus operations will be opened up to competition, under the so-called “Macron Law”, named after Economy Minister Emmanuel Macron.

The new law will also speed up labour tribunal proceedings in dismissal cases.

The Socialists are expected to survive the confidence vote, which was demanded by the centre-right opposition UMP.

via BBC

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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