France Tightens Non-EU Investment Rules, Supports ECB Inflation Measures, Hopes for EU Deficit Agreement with Germany

French Finance Minister announces a 10% threshold for non-EU investment reviews to be permanent, supports the ECB's steps to curb inflation, and remains hopeful for a consensus on EU budget deficits with Germany by early December.

• France is tightening its rules regarding non-EU investments by permanently setting a 10% threshold that triggers a government review. This move aims to protect French and European firms and sovereignty over artificial intelligence and Cloud data systems.
• The range of protected areas under these investment rules will also be extended to incorporate critical raw materials, and the rules will be applicable to French subsidiaries of foreign companies.
• French Finance Minister Bruno Le Maire expressed support for the European Central Bank's (ECB) efforts to reduce inflation across Europe, asserting that these measures would eventually bolster consumption despite current impacts on euro area growth.
• Le Maire also emphasized the necessity for more growth and productivity within Europe, in addition to managing inflation.
• Regarding EU budget deficits, Le Maire expressed optimism about reaching an agreement with Germany on reform of the EU's rules limiting national deficits. He anticipates these discussions will conclude by the beginning of December.

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