Apolline Menut and Fabrice Montagne, two analysts at Barclays say that the appointment of Macron is a very strong political signal and is meant to put an end to the confusion about economic policies.
"It will help to speed up the reform process....however, it will not make it easier for the prime minister to secure support on the left, which entails quite some risk," they said in a note on Wednesday morning.
"At the European level, the reshuffle is important, as it allows Hollande to have a team that does not criticize European policies and Chancellor Merkel. France should be able to clarify its voice and weigh more in the debate over fiscal policy coordination and institutional reforms."
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Speaking more broadly, Trichet - who spent 8 years at the helm of the ECB - was coy on whether he thought that a quantitative easing program was imminent for the euro zone. He said that the central bank has to fully implement what has already been announced, referencing a long-term refinancing program and the purchase of asset-backed securities.
He dismissed the idea that Germany was openly calling for caution with regards to aggressive monetary policy. Major asset purchase programs have to be evenly spread in the euro zone and many economists believe that they have the ability to stoke dangerous levels of inflation - something that Germany would be concerned about with the region's economic powerhouse having higher levels of inflation than others.
He also rejected the idea that German officials were trying to manipulate the decisions being made at the ECB with regards to more expansive monetary policy.
"The ECB is a fully independent instruction," he told CNBC. "The ECB is not blocked in any respect." He added that he had not been prevented to do anything by any government during his tenure and there was "absolutely no capacity" for any government to currently do this.