FT News Briefing France finally gets a new PM
Sep 6, 2024
Michel Barnier has been appointed as France's new prime minister, promising to engage with all political forces amid a complex political landscape. Meanwhile, Ukraine's President Zelenskyy undertakes a significant cabinet reshuffle to bring in fresh energy during ongoing conflict. In a surprising twist, Europe's sustainable investment funds are heavily investing in defense stocks, challenging traditional views on ESG criteria. This trend raises questions about the evolving definition of socially responsible investing amidst growing geopolitical tensions.
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France's New PM
- Macron named Barnier, former EU Brexit negotiator, as France's new PM.
- This appointment aims to resolve the political stalemate following Macron's coalition losing seats in the recent elections.
Ukraine's Cabinet Overhaul
- Ukraine's parliament approved a major cabinet reshuffle, the largest since the war began.
- This move aims to revitalize the government and improve efficiency, rather than signify policy shifts.
ESG and Defense
- ESG funds in Europe are increasingly investing in defense stocks, a trend seemingly at odds with ESG principles.
- This shift is driven by increased defense spending and the view that defense contributes to national security.