French Finance Minister Pierre Moscovici recommended that market participants in France become shareholders in Euronext, the European arm of NYSE Euronext. Jeff Sprecher, CEO of IntercontinentalExchange, has indicated that following ICE's takeover of NYSE Euronext, he plans to float Euronext. Groupe BPCE Chairman Francois Perol, however, questioned Moscovici's call for support amid the proposal to tax financial transactions in France and elsewhere. "I find it bizarre to be promoting a transaction tax while at the same time extolling the importance of Euronext," Perol said. "I understand the importance of maintaining Paris as a financial center but the government needs a coherent policy."