July 30, 2012

France's Hollande Lays Dodo Bird Egg With First Budget

Bloomberg, Bloomberg

AP Photo

France's competitiveness can only be restored through more of the kind of unpopular structural change that the last president,Nicolas Sarkozy, had begun and that Hollande is now reversing. These include lengthening the 35-hour work week, raising the retirement age, making it easier to hire and fire employees and cutting back on some entitlements.

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TAGGED: Eurozone, Francois Hollande, France


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