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France's new president imposes 30% pay cut on his salary and his ministers

Only five of the 34 ministers have held national government posts before
Only five of the 34 ministers have held national government posts before

France's new left-wing government started work with pledges to combat excessive austerity but to manage public finances better, marking the debut with a 30% cut in pay for President Francois Hollande and all ministers.

The wage reduction was endorsed at a first meeting of the 34-minister team, a day after Germany's government awarded rises to its ministers and Chancellor Angela Merkel, whose pay will overtake Hollande's.

Pierre Moscovici, France's newly-appointed finance minister, set the tone, reiterating Hollande's demand Berlin and other eurozone capitals rework a fiscal pact agreed in March, to add pro-growth measures alongside commitments to deficit reduction.

In a highly symbolic debut, Hollande chaired a first cabinet meeting where the 17 men and 17 women ministers agreed to a pay reduction that will trim salaries by 30%, knocking the wage Hollande will earn to just under €15,000 a month.

Only five of the 34 ministers have held national government posts before, but several key jobs have gone to long-timers, including Laurent Fabius, who served as France's youngest prime minister, in 1984 at age 34, under Francois Mitterrand.