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Mr Valls asserted '"I have the necessary majority in parliament to do this. We will fulfil our responsibility in Europe."
The country is in a "difficult economic situation," the Socialist premier admitted. But he was confident Chancellor Angela Merkel had realised the importance of new investments to restart the French economy and the wider eurozone.
France's main goal is restoring the economy's competitiveness, he said. Valls plans to prop up French companies with €40 billion over the next three years, saving €50 billion in the same period and €21 billion within 2015 alone.
"We will implement the long-anticipated structural reforms," Valls promised. That includes territorial reform, growth stimulation and allowing work on Sundays, he said. In addition, Valls hopes to simplify administrative requirements.
Merkel praised the "challenging and ambitious" reform plan, saying it should directly affect the country's competitiveness. At the same time, the Chancellor reminded France of its responsibility to comply with the Stability and Growth Pact (SGP).
Ulrich Grillo of the BDI commented bluntly: 'Germany is not responsible for France's problems and its not her job to fix them.'