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world news Diamars 17 mei 2022

Macron names Elisabeth Borne as France’s new prime minister

(AP) — Centrist politi- leader Jean-Luc Melenchon
cian Elisabeth Borne was said her appointment marks Macron also promised that
appointed France’s new “a new season of social and the new prime minister
prime minister on Mon- ecological mistreatment,” would be directly in charge
day, becoming only the claiming on Twitter that her of “green planning,” seeking
second woman in history legacy amounted to “a reduc- to accelerate France’s imple-
to hold the post. tion in the allowances of 1 mentation of climate-related
million unemployed people.” policies. Macron vowed to go
Borne, 61, the labor minis- “twice as fast” in his second
ter in French President Em- Borne’s first mission will be term to curb greenhouse gas
manuel Macron’s previous to make sure that Macron’s emissions.
government, succeeds Jean centrist party and its allies do
Castex, whose resignation well in France’s parliamenta- Borne has a mixed track re-
on Monday was expected af- ry election in June. The vote, cord, prompting criticism
ter Macron’s reelection last scheduled for two rounds, from workers, unions and
month to a second five-year will determine which group left-wing voters. As labor
term. holds the majority of seats minister since 2020, she im-
at the National Assembly, plemented changes making under Socialist French Presi-
Borne spoke soon after her which has the final say over it harder for jobless people dent Francois Hollande. Earlier Monday, Castex came
appointment, noting the the Senate in France’s law- to get benefits and reduced to the Elysee presidential
emotions she felt at being making process. monthly payments for some She became CEO in 2015 palace to formally offer his
selected for the highest of- unemployed people. of the state-owned transport resignation, which Macron
fice a woman has ever held in Macron also promised a bill company RATP, which oper- accepted. In a tweet, Macron
French political leadership. addressing the rising cost of In 2018, as France’s transport ates the Paris metro. thanked Castex and his team,
living in France, where food minister, she faced a major saying “he took action with
“I would like to dedicate this and energy prices are surging. strike from the SNCF rail- She joined Macron’s centrist passion and dedication to
nomination to all the little It will be prepared by his new way company against plans party in 2017. She was trans- serve France.”
girls by telling them ‘Go af- government and is expected to open the train network to port minister and then minis-
ter your dreams!’ Nothing to be presented just after the competition and end newly- ter of ecological transition in Castex had succeeded Ed-
should stop the fight for the parliamentary election. hired employees’ right to re- Macron’s first government. ouard Philippe in July 2020
place of women in our soci- tain jobs and benefits for life. amid the COVID-19 pan-
ety,” she said. If Macron’s party wins a ma- She ultimately managed to Borne is the second woman demic. He sought to sup-
jority in the Assembly, Borne pass the bill. to hold the position of prime port businesses and revive
Macron and Borne are ex- will then need to ensure that minister in the country after France’s economy following
pected to appoint a new pension changes promised by Yet Borne’s rise to power has Edith Cresson, who served the damage cause by the vi-
French government in the the president are put into law, been formidable, despite nev- in 1991-1992 under Socialist rus and successive pandemic
coming days. including raising the mini- er having held elected office. President Francois Mitter- lockdowns.
mum retirement age from 62 Closer to France’s traditional rand. Cresson, amid rising
Macron’s choice of Borne to 65. The proposed changes left at the beginning of her prices and high unemploy- In France, it’s common for
was criticized by some left- have been criticized by work- career, she notably worked as ment, became very unpopu- presidents to have more than
wing politicians and their ers, unions and left-wing vot- chief of staff to then-Ecology lar and remained in office less one prime minister during
supporters. Firebrand far-left ers. Minister Ségolène Royal, than a year. their terms.

Bank of England governor rejects criticism on inflation

(AP) — Bank of England Gov. said it was only in hindsight that the We could not have seen a war with the bank ahead of Monday’s hearing.
Andrew Bailey on Monday re- unprecedented sequence of shocks to Ukraine. There is also a further leg
jected criticism that the institu- the economy — including Russia’s of COVID, with the situation in Chi- “It is the duty of central banks to safe-
tion didn’t move quickly enough invasion of Ukraine in February and na, which appears to be affecting the guard the value of our money,” Fox
to quash inflationary pressures, the lingering COVID-19 pandemic country more seriously.” tweeted. “Yet the @bankofengland
telling a parliamentary commit- — could have been managed differ- has persistently underestimated the
tee that monetary policymakers ently. The central bank initially held off on inflationary threat and the problem
weren’t able to predict wars. raising interest rates when consumer of excess money supply. The (Com-
“We can’t predict things like wars – prices began to rise last summer, ar- mons Treasury Committee) should
Bailey has come under sharp criticism that’s not in anybody’s power,“ he guing that inflation was largely due launch a wide-ranging investigation
in recent months as the U.K.’s annual told the House of Commons Trea- to short-term external pressures and as a matter of urgency.”
inflation rate soared to 7%, the high- sury Committee. “I don’t think we would quickly return to the targeted
est in more than 30 years. But Bailey could have done anything differently. level. Bailey also warned of rising consum-
er prices, describing food inflation as
Inflation has accelerated steadily since one of the bank’s major worries.
July, the last time it was at or below
the bank’s 2% target. “One is the risks of a further ener-
gy price shock, which would come
The central bank finally raised its key from the cutting off of (Russian) gas
interest rate in December, after keep- and distillates, such as products like
ing it at a record low 0.1% for the pre- diesel,″ he said. “And then, the one
vious 21 months. After four consecu- which I might sound rather apocalyp-
tive increases, the rate now stands at tic about, is food.″
1%.
The governor said that Ukraine has
Senior lawmakers from the govern- food in storage but can’t get it out of
ing Conservative party have lashed the country, given Russian attacks.
out at the bank in recent days, saying
it should have acted more swiftly to “It is a major worry for this country
combat inflation fueled by the rising and a major worry for the developing
costs of energy and food. Liam Fox, world,” Bailey said.
a former cabinet minister, criticized