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French Waiting on Economic Measures

Friday, 19 Aug 2011 | 12:00 PM ET

"What will be interesting to see from this week's meeting will be the new scenario for the French economy. We know from the figures we had ten days ago that the growth figures were zero in the second quarter, so we know growth for the year will be between 1.5 percent and 1.7 percent, which is below the 2 percent which was expected by the government at the beginning of the year," Philippe Waechter, head of economic research at Natixis Asset Management, told CNBC's Investing Edge. "We don't know the measures that will be presented [to reduce the budget deficit], but we will start to have some new ways to think about it," he added.