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NSA Global SIGINT Highlights

French economy in dire straits according to


intercepted communications between French Finance
Minister and French Senator
WikiLeaks release: June 29, 2015
Keywords: National Security Agency, NSA, Top Secret, SIGINT, NOFORN,
intelligence, intercept, espionage, United States, USA, France, French
economy, Trade Minister, Pierre Moscovici, AER program, Martial
Bourquin, National Front, PSA Peugeot Citroen, Zapatero, Gerhard
Schroeder, unconventional, 2013 budget, 2014 budget
Restraint: TOP SECRET//COMINT//NOFORN
Title: NSA Global SIGINT Highlights: French Finance Minister Says Economy
in Dire Straits, Predicts Two Atrocious Years Ahead
Date: 31 July 2012
Organization: National Security Agency (NSA)
Author: Summary Services Office
Link: https://wikileaks.org/nsa-france/
Pages: 1

Description
Interception between French Finance, Economy and Trade Minister Pierre Moscovici and Senator Martial
Bourquin (both from ruling Socialist Party) reveals that the Minister believed that the French economic
situation was worse than anyone [could] imagine and drastic measures [would] have to be taken in the
next two years. This interception is in July 2012 and topic is pressure on the Finance Minister to reestablish a pre-retirement unemployment supplement known as the AER. Bourquin warns Moscovici that
if AER program is not delivered it might push voters to right-wing party National Front. Moscovici
disagrees and asserts that grave situation at faltering auto maker Peugeot Citroen is more important then
AER. He further points out that the government must find additional 33 billion Euros for the forthcoming
2013 budget and warns that 2014 will also be a bad year. The Senator warns Moscovici that the Socialist
Party could find itself in a situation similar to that of Socialist former Spanish President Zapatero.
Moscovici countered that the French government would rather emulate Social Democrat former German
Chancellor Gerhard Schroeder.

FrenchFinanceMinisterSaysEconomyinDireStraits,PredictsTwo
AtrociousYearsAhead(TS//SI//NF)
(TS//SI//NF)TheFrencheconomicsituationisworsethananyonecan
imagineanddrasticmeasureswillhavetobetakeninthenext2
years,accordingtoFinance,Economy,andTradeMinisterPierre
Moscovici.On19July,Moscovici,underpressuretoreestablisha
preretirementunemploymentsupplementknownastheAER,warnedthat
thesituationisdire.Uponlearningthattherearenofunds
availablefortheAER,FrenchSenatorMartialBourquinwarned
MoscovicithatwithouttheAERprogramtherulingSocialistParty
willhavearoughtimeintheindustrialbasinofthecountry,with
votersturningtotherightwingNationalFront.Moscovicidisagreed,
assertingthattheinabilitytoreinstitutetheAERwillhaveno
impactinelectoralterms,besides,thesituationwithfaltering
automakerPSAPeugeotCitroenismoreimportantthantheAER.
(COMMENT:PSAhasannouncedplanstocloseassemblyplantsandlay
offsome8,000workers.)Moscoviciwarnedthatthe2013budgetisnot
goingtobea"goodnewsbudget,"withthegovernmentneedingtofind
atleastanadditional33billioneuros($39.9billion).Norwill
2014beagoodyear.Bourquinpersisted,warningthattheSocialist
PartywillfinditselfinasituationsimilartothatofSocialist
formerSpanishPresidentZapatero,whowaswidelycriticizedforhis
handlingofhiscountry'sdebtsituation.Moscovicicounteredthatit
wasnotZapaterowhosebehaviortheFrenchgovernmentwouldemulate,
butratherSocialDemocratformerGermanChancellorGerhard
Schroeder.(COMMENT:Schroeder,chancellorfrom1998to2005,was
widelycreditedwithhelpingtorestoreGermancompetitiveness.He
favoredshiftingfrompureausteritymeasurestomeasuresthat
encourageeconomicgrowthandadvocatedacommonEUfinancial
policy.)
Unconventional
Frenchdiplomatic
Z3/OO/52412212,271748Z

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