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PROFILE-French Finance Minister Francois Baroin

by Reuters
Thursday, 18 August 2011 08:56 GMT

Position: Finance Minister

Incumbent: Francois Baroin

Date of Birth: June 21, 1965

Term: From June 29, 2011 until 2012 at the latest, when elections are scheduled.

Key facts:

-- A protege of former president Jacques Chirac, Baroin took the helm of France's finance ministry at the height of the euro zone crisis last June when former incumbent Christine Lagarde was appointed to head the International Monetary Fund.

-- During his previous 14-month stint as budget minister, Baroin was a strong advocate of fiscal discipline and economic convergence with Germany, albeit at a gradual pace.

-- Although he lacks Lagarde's fluent English and experience on the international stage, Baroin has made efforts to build ties with his euro zone counterparts, particularly Germany's Wolfgang Schaeuble, as they seek to strengthen euro zone governance and turn the page on the region's debt crisis.

-- Baroin has repeatedly made it clear that reaching France's target of reducing its deficit to 3 percent of GDP by 2013 is "sacrosanct" and the government will do everything necessary to achieve that, with the aim of putting France's 'AAA' rating beyond doubt.

-- Baroin has made no secret of his ambition to reach the pinnacle of French political life. His appointment was widely regarded as a gesture by President Nicolas Sarkozy to shore up support with the conservative wing of his centre-right UMP party ahead of next year's presidential election.

-- Born in Paris to an upper-class family, Baroin's youthful air and schoolboy round glasses earnt him the nickname "Harry Potter". He started his career as a political correspondent for French radio before becoming a member of parliament in 1993 and the mayor of Troyes, a mid-sized city west of Paris, in 1995.

-- He continues to meet regularly with Chirac, who was a close friend of his businessman father. Baroin served as campaign spokesman for Chirac during his campaign for the 1995 presidential election and soon became, at 29, the youngest member of government under Prime Minister Alain Juppe.

-- Baroin never attended the elite ENA public administration school which serves as a waystation for French politicians, and has fewer diplomas under his belt than many ministers.

-- As budget minister, he earned Sarkozy's confidence through his handling of cutbacks for the public sector in spite of a few notable gaffes, including an erroneous announcement that France would raise its taxes in 2013. (Reporting by Daniel Flynn; Editing by Catherine Bremer)

Our Standards: The Thomson Reuters Trust Principles.


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