Contact

News & Insights

AROUND THE BRANCHES – French Economic Growth Predicted to Slow

The latest quarterly economic outlook from the country’s central bank, which has its headquarters in Paris, expects that growth will slow from 1.3% this year to 1.1% next year; only last summer it predicted that growth would continue at 1.3%.

With an eye on the more distant future, Banque de France, predicts that the economy will rally in 2021 and 2022, with growth of 1.3% predicted for both years. However, this is lower than the 1.4% which it originally predicted for 2021.

The predictions for next year chime with those of the French Finance Minister Bruno Le Maire in so far as they have been downgraded; however they are less optimistic than his growth forecast, which he recently downgraded from 1.4% to 1.3%.

More strikes, more economic pain?

President Emmanuel Macron is continuing to push ahead with an ambitious economic agenda despite considerable hostility from “yellow vests”.

Pension reform has been the protesters’ latest target, with union leaders calling for an open-ended strike and protesters taking to the streets in a show of force.

Yet Macron remains steadfast. “We are rebuilding a universal pension system, much fairer and accountable,” he said in an AP report*.

“I have an ambitious project for the country”, he said. “And I won’t give up. Because I deeply believe that France is a great country which can face the challenges of the 21st century.”*

Financial advice for expats in France

As an expat in France you will have unique cross-border circumstances that are likely to affect your pension planning. For example, you may wish to convert your UK pension to a QROPS or SIPP.

Whether you are looking into this or are considering the possibility of an assurance-vie, we can offer specialist and personalised advice to help you make a decision that is in your best interests.

We can help you make sense of all your wealth management options so that you can have confidence that your money will continue to work for you, both now and in the future, when you reach retirement.

Disclaimer: The provision of information in this communication is not based on your individual circumstances and does not constitute investment advice. Blacktower makes no recommendation as to the suitability of any of the products or transactions mentioned.

* https://apnews.com/f3fa07de7ab78c9f507bb5ac48db73e6 Accessed 18-12-19

Other News

GREXIT

Grexit

Yet again what another country does or doesn’t do could have huge implications of the rest of Europe and the Western world. 

The clock is ticking for the Greek government to pay back the International Monetary Fund over €1bn (£720m) in loans in early May, as well as fund €1.4bn Treasury bill redemptions, and other major payments, including coupon payments on Greek government bonds.

It would appear that the Greek finance minister Yanis Varoufakis has been sidelined in Greek debt negotiation talks, but as Holly Cook from Morningstar says “The situation hasn’t changed that much, no matter who is actually doing the talking, they can’t stray too far from what their original mantra was, because their original mantra was all about anti-austerity… They’ve got a relatively tight margin for maneuver.”

Read More

Saving for education fees – new factors to consider

Man holding piggy bankToday’s long term savers face many challenges. At Blacktower, we want to help you through all financial planning adversity, whether you need advice on regular savings in Grand Cayman or help with inheritance tax planning in France.

One major savings goal that many parents wish to work towards is having enough money to send their children on to higher education. This goal became harder to attain when university tuition fees were increased back in 2012, some by as much as three times. Now, a new proposal may further shake things up in terms of how much money parents will need to save.

Read More

Select your country

Please select your country of residence so we can provide you with the most relevant information:

You are currently viewing the Blacktower Financial Management EU website.

You may be looking for the Blacktower United States website.

Blacktower United States > X Stay on this site

Or choose your country.