French Economy Minister Bruno Le Maire vowed that the government will push ahead with structural reforms after Fitch Ratings pointed to social unrest over the planned pension reforms in lowering its assessment of France’s credit rating.
“I believe that the facts invalidate the assessment by the Fitch agency,” Le Maire told AFP on Saturday.
Citing the government’s reform plans for pension and unemployment benefits, Le Maire added that “we are in a position to pass structural reforms for the country … And we will continue to pass structural reforms for the country.”
Le Maire said the government of French President Emmanuel Macron is planning a “whole series of reforms” that will speed up “the transformation of France’s economic model.” A green industry plan, which the government will present “in a few days,” will allow France to “open new industrial sites and create new jobs,” he said.
Fitch on Friday downgraded France’s rating by one notch to AA- from AA. “Social and political pressures illustrated by the protests against the pension reform will complicate fiscal consolidation,” the agency said.
“Political deadlock and (sometimes violent) social movements pose a risk to Macron’s reform agenda and could create pressures for a more expansionary fiscal policy or a reversal of previous reforms,” it added.
The government has faced strong protests after adopting a pension reform that will raise the legal retirement age from 62 to 64. Trade unions plan to continue their demonstrations with a “massive mobilization” on Monday.
The presidents of nine NATO countries in central and eastern Europe declared on Sunday that they would never recognize the annexation by Russia of several…
<p><img width="1000" height="600" src="https://www.naijanews.com/wp-content/uploads/2024/03/Governor-Eno-and-Tinubu-1000x600.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Governor Eno and Tinubu" decoding="async" fetchpriority="high" srcset="https://www.naijanews.com/wp-content/uploads/2024/03/Governor-Eno-and-Tinubu-1000x600.jpg 1000w, https://www.naijanews.com/wp-content/uploads/2024/03/Governor-Eno-and-Tinubu-590x354.jpg 590w, https://www.naijanews.com/wp-content/uploads/2024/03/Governor-Eno-and-Tinubu-400x240.jpg 400w" sizes="(max-width: 1000px) 100vw, 1000px" /></p>
<h2>Akwa Ibom State Governor, Umo Emo has reiterated that he will continue to collaborate with President Bola Tinubu despite their political affiliation.</h2>
<p><strong>Naija News</strong> reports that Eno made this known while receiving hundreds of decampees from various opposition parties, including the APC, Young Progressives Party (YPP), New Nigeria Peoples Party (NNPP), and others, into the ruling Peoples Democratic Party (PDP) in the state.</p>
<p>The governor noted that he couldn't fight President Tinubu or allow his administration to engage in unhealthy rivalry with the federal government, which could negatively impact the development of the state and the people, as articulated in his administration's 'Arise Agenda'.</p>
<p>He vowed that he would never work at cross purposes with the centre, as doing so would only strain the relationship between the state, which depends on the centre for monthly cash for its development.</p>
<p>The PDP governor warned the defectors against bringing bad influence into the party, especially insulting political leaders.</p>
<p>He said:<em> "I cannot fight President Tinubu, we cannot fight the centre. We have only one President of Nigeria and we must not attack or insult him. We will not use Akwa Ibom's money to fight the centre because if you fight the centre, the centre can no longer hold.</em></p>
<p><em>"You can't fight the person that gives you money and resources and expect him to continue to give you. If we use Akwa Ibom money to create trouble with the centre, and use it to be traveling to Abuja every day, it is the people that will suffer."</em></p>
<p>Governor Eno noted that since his assumption of office in the last 10 months, he has effectively used the resources from the centre to fix physical infrastructure, including roads, provide social services—education, health, gratuity payment to retired civil servants, and care for the aged, maintaining that such a robust relationship with the centre cannot be truncated by politics's sentiment.</p>
<p>He, therefore, enjoined the returnees to acclimatize themselves to the PDP fold as equal stakeholders while directing the State PDP Chairman, Elder Aniekan Akpan, to ensure equal rights and privileges for them in their new political home.</p>
<p>The post <a href="https://www.naijanews.com/2024/03/23/why-i-cant-fight-tinubu-pdp-governor-explains/">Why I Can’t Fight Tinubu – PDP Governor Explains</a> appeared first on <a href="https://www.naijanews.com">Naija News</a>.</p>
