LONDON — Germany and France will lead a face-saving bid this week to revive a flagging project to tax financial transactions in 11 euro zone countries and allay fears it could hamper economic recovery.
The tax is expected to be scaled back from an original plan to introduce it from January to raise 35 billion euros ($48 billion) annually to make banks pay back some of the money received in the 2007-09 financial crisis.
Posted in France
Tagged countries, tax, that
PARIS — McDonald’s France (MCD.N) has confirmed tax inspectors visited its local headquarters but denied wrongdoing after French media reported it had transferred over 2.2 billion euros ($3 billion) abroad since 2009 to dodge taxes.
The French arm of the U.S. hamburger chain said in a statement it cooperated with inspectors who visited its headquarters near Paris last October as part of what it said was a regular check.
PARIS — France is sticking to its current deficit reduction plans and is not seeking extra time to bring its finances in line with EU rules, Finance Minister Pierre Moscovici said on Tuesday.
France’s EU partners have already granted it two extra years to cut its public deficit to a European limit of three percent of economic output, giving Paris until 2015.
PARIS/BERLIN — Car sales in France and Spain rose for the fifth straight month in January, suggesting the recovery in Europe’s autos market is strengthening following a six-year slump.
The figures add to broader signs the European economy is emerging from a protracted period of weakness which weighed heavily on consumer demand, particularly in the debt-laden southern countries of the region.
Posted in France
Tagged car, percent, sales