Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

French PM booed by young Socialists as party split over pro-business policy

Published 08/30/2015, 05:44 AM
Updated 08/30/2015, 05:47 AM
© Reuters. French Prime Minister Valls attends the Socialist Party's "Universite d'ete" summer meeting in La Rochelle

LA ROCHELLE, France (Reuters) - Young Socialist Party members booed the French prime minister at a party dinner on Saturday, calling for the resignation of his economy minister, whom they accuse of favoring business over Socialist ideals, participants said on Sunday.

The young Socialists are known to be well to the left of the party mainstream and others did not join in with their jeering. But the hecklers are not the only ones who object to the government's economic policy that includes tens of billions of tax cuts for businesses.

Many hardcore PS members are uneasy about Economy Minister Emmanuel Macron, who epitomizes the pro-business approach adopted by President Francois Hollande at the beginning of 2014.

France's economy slowed to a standstill in the second quarter and pressure for Hollande to change tack is growing as parties begin to gear up for the 2017 presidential elections.

"They shouted 'Macron resign'," party member Marise Faye said of a group of youths at the Socialist Party's (PS) annual end-of-summer meeting, which is held behind closed doors.

While Faye was not one of the hecklers, she became uneasy when asked what she thought of Macron, shaking her head when asked again if she liked him.

Macron on Thursday criticized Socialists' treasured 35-hour working week saying the party had been mistaken in thinking that France would fare better if people worked less, a move decried as a "provocation" by PS secretary-general Jean-Christophe Cambadelis.

A party spokeswoman confirmed there had been "a few boos" from members of the party's youth group when Prime Minister Manuel Valls walked through the room. The jeering did not last long, those attending at the dinner said.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Macron did not take part in the three-day PS meeting in La Rochelle, a town on the Atlantic coast, but the former banker turned economy minister was the focus of many discussions.

Hollande has managed to contain rebellion in PS ranks over his policies, but discontent persists, and backbenchers keep pressing for fewer tax cuts for businesses and more help for households.

Hollande and Prime Minister Manuel Valls have said they would stick to their policy of putting a lid on public spending, which is required to meet EU budget targets. However, Hollande showed he is willing to compromise when he announced that the 2016 budget would contain tax cuts for households.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.