Bank of France Governor Warns About Government Spending

(Bloomberg) — Bank of France Governor and European Central Bank policy maker Francois Villeroy de Galhau said the French government must be more careful about spending and debt that’s not linked to the novel coronavirus health-care crisis.



a person standing in front of a store: PARIS, FRANCE - SEPTEMBER 28: A worker at a Paris bar sweeps up after closing early to comply with new Covid-19 restrictions forcing bars and cafes in the French capital to close at 10pm on September 28, 2020 in Paris, France. The French capital has seen a surge in Covid-19 cases and was recently designated a "red zone," which imposes set of restrictions on public gatherings and the sale of alcohol. From today bars are required to remain closed between 10PM and 6AM. (Photo by Kiran Ridley/Getty Images)


© Photographer: Kiran Ridley/Getty Images Europe
PARIS, FRANCE – SEPTEMBER 28: A worker at a Paris bar sweeps up after closing early to comply with new Covid-19 restrictions forcing bars and cafes in the French capital to close at 10pm on September 28, 2020 in Paris, France. The French capital has seen a surge in Covid-19 cases and was recently designated a “red zone,” which imposes set of restrictions on public gatherings and the sale of alcohol. From today bars are required to remain closed between 10PM and 6AM. (Photo by Kiran Ridley/Getty Images)

The government must become more efficient as the pace of spending, stripping off Covid-19 measures, is accelerating “even more

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Bank of France Governor Villeroy Warns About Government Spending

(Bloomberg) — Bank of France Governor and European Central Bank policy maker Francois Villeroy Galhau said the French government must be more careful about spending and debt that’s not linked to the novel coronavirus health-care crisis.



a person standing in front of a store: PARIS, FRANCE - SEPTEMBER 28: A worker at a Paris bar sweeps up after closing early to comply with new Covid-19 restrictions forcing bars and cafes in the French capital to close at 10pm on September 28, 2020 in Paris, France. The French capital has seen a surge in Covid-19 cases and was recently designated a "red zone," which imposes set of restrictions on public gatherings and the sale of alcohol. From today bars are required to remain closed between 10PM and 6AM. (Photo by Kiran Ridley/Getty Images)


© Photographer: Kiran Ridley/Getty Images Europe
PARIS, FRANCE – SEPTEMBER 28: A worker at a Paris bar sweeps up after closing early to comply with new Covid-19 restrictions forcing bars and cafes in the French capital to close at 10pm on September 28, 2020 in Paris, France. The French capital has seen a surge in Covid-19 cases and was recently designated a “red zone,” which imposes set of restrictions on public gatherings and the sale of alcohol. From today bars are required to remain closed between 10PM and 6AM. (Photo by Kiran Ridley/Getty Images)

The government must become “more efficient” as the pace of spending, stripping off Covid-19 measures, has been accelerating too quickly,

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Macron outlines new law to prevent Islamic ‘separatism’ in France

“What we need to fight is Islamist separatism,” Macron said, in a speech delivered in the northwestern Paris suburb of Les Mureaux. “It’s a conscious, theorized, politico-religious project that materializes through repeated deviations from the values of the republic and which often result in the creation of a counter-society.”

Motivated in part by a string of deadly terrorism attacks — some perpetrated by French Muslims against their fellow citizens — Macron has talked for several years about his desire to encourage the integration and prevent the radicalization of those who practice Islam in France.

But his Friday speech went further than previous statements in its critique of France’s largest minority community. Under fire by the political right for being soft on crime, he called Islam “a religion that is in crisis all over the world” whose problems stemmed from a “very strong hardening” of positions among Muslims.

His tone perplexed

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Macron outlines new law to prevent Islamic ‘separatism’ in France

Emmanuel Macron has announced a law against religious “separatism” aimed at freeing Islam in France from “foreign influences”.



Emmanuel Macron wearing a suit and tie: Photograph: Reuters


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Photograph: Reuters

In a long-awaited declaration, the French president outlined new measures to “defend the republic and its values and ensure it respects its promises of equality and emancipation”.

The measures to combat “radical Islamism” and terrorism suggested a carrot-and-stick approach: local officials will be given extra legal powers to combat extremism while money will be invested in education – particularly of Islamic culture and civilisation – and to deal with other social problems including housing and poverty.

“Our challenge is to fight against those who go off the rails in the name of religion … while protecting those who believe in Islam and are full citizens of the republic,” Macron said.

His speech on Friday was a broad outline of the measures to come, which he

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