Update: The French National Assembly has approved the agency

The French business newspaper Les Echos reported on Friday last week that the National Assembly now has approved the plans to create a French local government funding agency. This means that the agency will formally be created later this year. In a comment to Les Echos, Rollon Mouchel-Blaisot, the director of the Association des maires de France, said ”We want to finish with some monopolies, such as Dexia, which had known adverse effects”. And the President, Jacques Pélissard, of the same organisation adds ” local authorities  that are not in a healthy financial situation will not be admitted into the agency,”