Word: balladur
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Dates: during 1986-1986
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Polls have shown that a strong majority of the French support cohabitation, and last week's confrontation probably does not mean that Mitterrand and Chirac will totally go their separate ways. As Finance Minister Edouard Balladur recently remarked, "In a western movie, the first one to draw his gun usually wins. In cohabitation, it is the opposite: the first one to draw is dead." Apparently, Mitterrand and Chirac still want to avoid that eventuality...
...help him engineer this dramatic transformation, Chirac named his longtime friend Edouard Balladur to be the Minister of Economy, Finance and Privatization. The most powerful Finance Minister in decades, Balladur, once a top aide to the late President Georges Pompidou, has been described by the French press as Chirac's alter...
While Chirac asked the National Assembly for the authority to begin the process of deregulation and denationalization, Balladur was already outlining other economic reforms. These steps will relax most foreign-exchange and credit controls and reduce interest rates. Balladur is confident that the program will pump new life into France's economy. Says he: "I don't see any more reason to hesitate to invest, to hire workers, to participate boldly in the resumption of growth and investment...
That rally stalled last week, at least temporarily, as the value of shares plunged by 6.8% on Monday. Finance Minister Balladur quickly moved to allay investor concern. Said he in the National Assembly: "The Bourse has risen enormously. From time to time, people catch their breath." But after Balladur's speech, prices recovered only slightly. Market experts in Paris ascribed the slowdown to an impatient mood among investors, who are waiting for more solid economic results before pushing prices higher...
...Edouard Balladur, 56, a close Chirac adviser, was named to the expanded position of Minister for Economy, Finance and Privatization. Balladur will direct efforts to deregulate the economy and to sell currently nationalized companies to private interests...