April 12, 2018 / 11:44 AM / 13 days ago

French state to gradually take over part of SNCF's debt -Macron

PARIS, April 12 (Reuters) - The French state will gradually take over part of rail operator SNCF’s 46 billion euros ($57 billion) of debt as and when reforms to make it profitable get implemented, President Emmanuel Macron said on Thursday.

“It will be partly and gradually taken over as and when these reforms get carried out,” Macron said in a TV interview, during which he pledged not to give in to rolling strikes against the shake-up that have caused transport chaos in France.

The French government has been reluctant to commit to a write-off of the SNCF’s debt, which would raise the government’s own debt-to-GDP ratio dangerously close to the symbolic 100 percent mark.

$1 = 0.8098 euros Reporting by Michel Rose and Ingrid Melander; Editing by Sudip Kar-Gupta

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