Mounir Mahjoubi, the French secretary of state for digital affairs, spoke to Joy Macknight at the Money 20/20 Europe conference about the value created through bank-fintech partnerships and how France is fostering an attractive environment for fintechs, which is of growing importance due to Brexit.
Following the financial crisis, major central banks had a remarkable convergence of approach and acted to avoid a meltdown. But global leveraging has not slowed and there is a risk of complacency in some quarters, warns the former ECB president.
France embraced change at its recent presidential election, writes its minister for the economy and finance. Now Emmanuel Macron’s new government aims to transform the economy by reforming labour laws, cutting business taxes, boosting training and overhauling the pension system. It also has its eye on shaking up the EU.
The UK's Brexit vote in June came as a blow to most in the EU, but the lack of widespread financial shock in the immediate aftermath of the vote showed how the improvements made to the euro area's post-crisis banking sector are paying off. France's central bank governor looks at why this was the case, but warns there is no room for complacency and calls for further progress on the economic part of the EU’s agenda.
Under new chief executive Philippe Brassac, Crédit Agricole has simplified its oft-criticised group structure and devised a new plan, aimed at strengthening core business lines, improving operational efficiency and transforming its digital offering. Brian Caplen reports on how these changes will affect the bank.