Brussels to give France until March 14 to explain

The European Commission calls on the government to provide french before March 14 details of the trivialization of the Livret A. Failing that France could be sent to the European Court of Justice.

Brussels raises her voice in the file of the booklet A. After writing to France in mid-February to demand an explanation of the trivialization of a booklet, the European Commission is more pressing: it announced Wednesday waiting for a reply by March 14. And according to the quality of the response, the Commission will decide whether to open infringement proceedings before the European Court of Justice or to grant additional time.

"France has had nine months to comply with the ruling," said Jonathan Todd, spokesman for the Competition Commissioner Neelie Kroes. The European Commission had requested in May 2007 in Paris to expand distribution of the Livret A to all French banks, setting a deadline of February 11. But on that date, the French Minister of Economy Christine Lagarde had requested an additional period of four months.

Produced savings défiscalisé regulated rate (3.50%), the Livret A is currently marketed only by the Caisses d'Epargne and the Postal Bank. The Caisse des Dépôts centralizes and uses funds for loan and long-term agencies to moderate housing rents (HLM). The new government intends that such centralization does do more than 70% instead of 100% today, in order to enable banks to keep a certain volume of business. The reform should be incorporated into the law of modernization of the economy which will be presented in early April in the cabinet for a vote in parliament this spring.