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. Last Updated: 07/27/2016

French Finance Minister Quits

BORDEAUX, France -- French Prime Minister Alain Jupp? said on Friday that Finance Minister Alain Madelin would resign.

"Madelin offered a letter of resignation and I accepted," the prime minister told a news conference in the southwestern city of Bordeaux.

Madelin had come under fire from trade unions and other groups for openly attacking public sector retirement packages and social benefits as the government prepared to draft its budget for 1996.

The resignation was the first to hit the three-month-old Jupp? cabinet, formed after conservative Jacques Chirac became French president on May 17.

Madelin on Thursday threw down a challenge to labor groups on the eve of the fall public sector pay round, saying a cut in taxes should be accompanied by a reduction in public spending.

He said there was a disparity between retirement packages for employees of the state sector and their private sector counterparts.