Since that time a downturn is inevitable

A crisis meeting stands today on the job. What levers do you recommend to operate

At the risk of surprise you, my first concern is the risk of drying out of the credit for our small and medium-sized companies which are the first creators of jobs. They are the levers of our growth and while they are in this crisis, they are likely to be the first victims. He must launch a refinancing program at the European level, with institutions such as the European Bank of investment, to take over from private institutions too hesitant and limit the impact of the financial crisis on the real economy.

The financial crisis has not good back, which helps to explain the current difficulties while the deterioration of employment began before

The subprime crisis began with the bankruptcy of Lehman Brothers, but in the summer 2007! Be objective about the facts. Since that time, a downturn is inevitable. Today, we need to make structural and short-term responses. There is in my view three emergencies. First make a detailed diagnosis of the losses suffered or potential French banks. Then, if there is bad debt situations in such and such establishment, required to targeted interventions. The State was able to do so at other times, for example to save Alstom in 2004, and this has been a very good deal for the taxpayer. Finally, it must open a global reflection on the regulation and control markets. The essential is to have transparent rules of the game. On remuneration in investment banks, for example, transparency could limit the excesses. On the idea of punishment, I am more nuanced than the President. There were intolerable behaviour, they must be condemned. But it is less stigmatizing culprits to reform a system has become crazy and opaque.

Nicolas Sarkozy speech mark a turning of the quinquennium

This is not a turning point; It is a concrete illustration of the philosophy which is ours: to demonstrate pragmatism while keeping the cap reforms. When growth is there, it releases the energies, initiatives, and on lower taxes. When the situation tends, is a speech by truth and ensures to maintain balances, assuming that capitalism can need regulation. The budget is coherent: it must take into account the global economic slowdown. Where a very strong public expenditure further, without going to a policy too brutal severity which could break the springs of our economy. This is balanced.

The head of State said to the UMP deputies: "This is not the time to deal with the deficit." Do you agree

How otherwise today Of course, I would have preferred that this year continued reduction of the deficit. In view of the tax losses and the commitments made to the French abruptly discontinue expenditure programmes already launched is not responsible for, we have no choice. As it is for us out of the question of raising taxes. However, we cannot afford to remain on this trend in the coming years. It is essential that the year 2009 is dedicated to rework the public expenditure on all sectors of activity: State, social security, local communities. We, members of Parliament, will now ensure, as part of our new responsibilities evaluation and control of government action, that every euro of public expenditure is optimized for again reduce the deficit in 2010. To do this, we will focus now on the territorial sages.