https://www.reuters.com/world/inside-macrons-pitch-meeting-with-wall-street-budget-woes-mount-2024-10-04/
French President Emmanuel Macron has given top U.S. financiers a candid assessment of his country’s financial woes, flagging the potential for looming tax increases, sources said this week, in an effort to tamp down concerns over France’s gaping deficit.
Macron, a former investment banker, met with more than a dozen Wall Street executives in New York during the U.N. General Assembly late last month, aiming to reassure them about France’s deteriorating fiscal outlook, according to three people who heard Macron speak
Europe’s economic slowdown has spurred the need to consolidate public finances through targeted, and temporary, tax increases, Macron said, according to a second person who was present at the meeting.
The hikes would mark a U-turn for France, which cut taxes for big business under Macron. He asked investors at the meeting to not over react to any tax increases, and said his goal was primarily to cut spending.
Likely not good when your president puts on a dog and pony show for potential financiers.
https://www.reuters.com/world/europe/german-economy-stagnates-q3-2025-10-30/
- Germany’s GDP stagnates in Q3 amid declining exports
- Chancellor Merz’s fiscal measures face delays
- Employment growth remains weak, says labour office
- Inflation stays above target
Germany was spared a recession - defined as two consecutive quarters of negative growth - thanks to rising corporate investment, especially in equipment, Germany’s Federal Statistical Office said.
“The U.S. tariff shock and intense competition with China will continue to make things difficult for export-oriented industries,” said Alexander Krueger, chief economist at Hauck Aufhaeuser Lampe.