BBG: French FinMin Moscovici Says Economy Is Sick

  • Says reducing French debt is a ‘necessary battle’.
  • Says French economy suffering from low consumer demand .
  • Millionaire tax to last for two years.
  • France’s 75% tax rate to apply to revenues more than 1 million euro .
  • France to create new 45% rate for income tax .
  • France will revise financing of social security to “make it sustainable.”
  • Says natural gas prices won’t rise 7%.
  • France to unveil ‘ structural measures ‘ to lower fuel prices .
  • ‘ Pieces of puzzle’ on Europe coming together.
  • France wants quicker European measures .
  • Says finding solution for Greece ‘ is possible ‘.
  • France wants Greece to remain in euro zone .
  • Greece needs to act with determination .

EUR/USD quietly trading lower at 1.3115/20 .

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