French Ambassador: Structural Reform Key To Ending Europe’s Debt Crisis

French Ambassador to the United States François Delattre addressed a gathering of the Houston chapter of the French-American Chamber of Commerce.

Ambassador Delattre spoke on the economic partnership between France and the U.S., as well as on France’s role in the management of the euro zone’s debt crisis.

Delattre said the recent deal to write down Greece’s debt won’t in itself be enough to bring the crisis to an end. What’s required, he said, is structural reform to promote entrepreneurship and innovation.

“Over the last year, in my country, we founded 650,000 new businesses. It’s a record high in Europe, by far. And it says a lot about the fact that we were able, in France — but it’s also true, I’m sure, in other European countries — to severely, seriously cut the red tape, so that today, in my country, for example, you can start a business in fifteen minutes online.”

Delattre described cross-investment as the backbone of the Franco-American economic partnership. He noted France is the third-largest foreign investor in Texas, with 200 French companies supporting 50,000 jobs.


Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined News 88.7 in January 2011. Since arriving in Houston, he has reported on the many changes wrought on the region’s economy by the revolution in domestic oil and gas production. His non-energy reporting runs the gamut from white-collar crime to cattle ranching. His work has aired on...

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