German business chief: France must change

German industry chief Hans-Peter Keitel hit out on Tuesday at the economic policies of the French government, arguing they were too interventionist.

"I'm very concerned about the fact that France can still use state interventionism to organise itself," Keitel head of the Federation of German Industries (BDI) told a banking congress in Frankfurt put on by business daily Handelsblatt.

"France must change direction very quickly. The gap between Germany and France is widening very rapidly," the industry chief said, suggesting that France's current credit rating is higher than its real financial situation would warrant.

"It would be the end of the eurosystem if France were to come under the same sort of pressure as Italy or Spain," Keitel added.

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