French finance minister says Peugeot-Fiat deal 'good news' for France

FILE PHOTO: French Finance Minister Bruno Le Maire delivers a speech during the Pledging Conference of the Green Climate Fund for the First Replenishment in Paris, France, October 25, 2019. REUTERS/Pascal Rossignol

PARIS - French Finance Minister Bruno Le Maire gave his blessing to the merger between national champion PSA and Italo-American carmaker Fiat-Chrysler, saying the deal would be good news for France and Europe but that he would keep an eye on possible job cuts. “This merger between Peugeot and Fiat can create the world’s fourth-biggest automotive champion. It gives us critical size to face the dual challenges of autonomous vehicles and electric cars,” he told reporters at the French finance ministry.

Le Maire did not confirm the French state would keep a seat at the board of the merged entity when asked by a reporter. Asked about a possible Dutch headquarters for the group, he said it was too early to say where decision centers would be located and that the French government would be vigilant on the subject.

Frank's compete with Euros for value. If it benefits Europe but puts the Frank under a stronger currency then it encourages dependency on Euros at the expense of French currency. if it benefits Euros to the expense of Frank's then common over individual currency is the issue

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Fiat Chrysler-Peugeot merger plans unlikely to face interference from French governmentBut France, which has a stake in PSA, is expected to press a merged company to protect the country's jobs and manufacturing base.
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Fiat Chrysler shares surge on report of merger talks with French automakerThe news comes two days before the Italian-American automaker is scheduled to news outlet reported the French automaker approached Fiat Chrysler about a potential merger earlier this year.
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