Sunday, June 17, 2007

Sarkozy to Push French Tax Cuts Even After Parliamentary Majority Shrinks

(Bloomberg) -- French President Nicolas Sarkozy
intends to press ahead with his 11 billion euro ($14.6 billion)
tax-cut package even after an unexpected setback left him with a
narrowed parliamentary majority, government officials said.

``The time of elections is over, the time for action has
come,'' Prime Minister Francois Fillon said in Paris after
estimates showed his Union for a Popular Movement party lost as
many as 45 seats in the 577-seat National Assembly in
legislative elections yesterday.


Read more at Bloomberg Bonds News

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