Word: balladur
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France's government has enacted measures to lower monthly pension payments, and quietly eroded the institution of "retirement at 60" by raising to 40 the number of years that must be worked to receive a full pension. Now Prime Minister Edouard Balladur is faced with a medical system that will be $17.9 billion in debt by year's end -- and an annual medical bill of $1,906 a person. To cover it, he has raised payroll taxes, reduced coverage for medications and told doctors to ease up on prescriptions and physical therapy...
...Edouard Balladur got right down to business: at his first Cabinet meeting, the new French Prime Minister ordered his 29 ministers to trim their own operating budgets 10% as a first step toward slashing a projected $55 billion deficit. President Francois Mitterrand named Gaullist Deputy Balladur to lead the government following elections that gave the conservative alliance 460 of the 577 National Assembly seats, leaving Mitterrand's Socialists with only 54 seats...
...majority of about 460 of the 577 National Assembly seats in this past Sunday's runoff. That will leave Socialist President Francois Mitterrand to "cohabit" with a hostile rightist majority until his term ends in 1995. His probable choice as Prime Minister: R.P.R. Deputy and former Finance Minister Edouard Balladur...
...such global cooperation? Prospects seem to be improving slightly. Last week, for example, French Finance Minister Edouard Balladur called for a meeting of the seven largest financial powers as soon as possible to stem turmoil on world financial markets. That represents a reversal of the previous French position and indicates a willingness to revise the Louvre agreement...
Trichet, 44, should know. His official job is chief domestic policy aide to French Finance Minister Edouard Balladur. But Trichet also presides over Paris Club affairs from behind his Louis XV desk in a spacious office overlooking the Louvre gardens. So far this year, representatives of 13 countries have come to Trichet to request rescheduling discussions. Among the visitors: Brazil, Argentina and Egypt. The previous record for the club was in 1985, when 17 countries renegotiated their debts, five of them twice...