France's Finance Minister Le Maire Works with German Minister, Prepared for Public Spending Cuts Amid Inflation Crisis and ECB Rate Hikes

France's Finance Minister Le Maire is closely working with the German Finance Minister on fiscal rules reform and is prepared to take further decisions to reduce public spending if the growth level does not meet expectations. The recent inflation crisis has led to the conclusion that there must be more growth and productivity in Europe. Le Maire also expressed skepticism about the ECB rate hikes. Meanwhile, the European Union has made progress on fiscal rules and reached agreements on restoring nature and biodiversity, receiving conditional approval from conservationists and EU institutions.