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France's anti-austerity ex-minister Arnaud Montebourg to run for presidency

Published 21/08/2016

Francois Hollande is yet to announce if he will stand again for the presidency
Francois Hollande is yet to announce if he will stand again for the presidency

France's former economy minister, who fell out with President Francois Hollande, has announced he will be a candidate for president next year.

Socialist Arnaud Montebourg, 53, said in a speech on Sunday that Mr Hollande's record "is indefensible".

Mr Hollande has not said whether he will stand for re-election.

Mr Montebourg, Mr Hollande's minister from 2012 to 2014, lost his portfolio amid feuding over economic policy, because he denounced German-style austerity as the wrong medicine to foster growth.

"The European Union is in the situation of a bankrupt business that needs a reform to be saved," Mr Montebourg said on Sunday.

As minister, he introduced a measure to broaden the government's authority to intervene when foreign companies want to buy firms the state considers vital, including in the sectors of transport, health and communications.

AP

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