French Business Group Calls Left’s Plan Danger to Economy: Echos

(Bloomberg) -- The head of France’s Medef business lobby said the program of the alliance of left-wing parties, which won the most seats in this months parliamentary elections, are a danger to the economy.

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In an interview in the French daily Les Echos, Patrick Martin added that since French President Emmanuel Macron dissolved parliament in June, decision on investments, and hiring have been deferred and fund-raising in venture capital interrupted.

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Putting into effect the program of the leftist alliance known as the New Popular Front “would be fatal to the French economy and bring about our decline,” Martin said.

A complex split in the French National Assembly has set the stage for unprecedented deal-making to try to form a lasting coalition that could govern the country. While New Popular Front — which includes the Socialists, the Greens and the far-left France Unbowed — has more lawmakers than Macron’s party or the far-right National Rally, it’s far short of an outright majority.

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