Hollande Announces Measures to Increase France’s Economic Outlook

President Francois Hollande presented a fresh fiscal outlook for the struggling French economy to 30 or more international business executives on 17 February. The meeting included representatives from corporate staples such as Volvo, Intel and Nestle, in addition to financial chiefs from China and various Gulf nations. France, the European Union’s second-largest economy, has experienced […]

European Union Passes Budget for 2014 to 2020

After approving the 2014-2020 European budget on November 14 in the European Union’s budget committee, deputies of the EU voted on November 19 in plenary to put the motion into effect on January 1. The budget proposal passed with a vote of 537 to 126 with 19 abstentions. The deal includes a high-level working that uses the […]

Disappointing EU Factory Data Raises Doubts About Recovery

Eurozone manufacturing numbers plunged in July to their lowest level in three years, according to newly-released macroeconomic data. A fall of 1.5% in industrial output was reported across the 17-country Eurozone, instead of the 0.1% increase forecast by economists. The drop, reported by European Union statistics agency Eurostat, raises serious questions about whether European leaders […]

Popularity Levels for Hollande and Ayrault Rise

Things may be looking up for French President Francois Hollande. His approval ratings rose 2% to reach 32% on September 3, and those of French Prime Minister Jean-Marc Ayrault rose 2% to reach 38%. Results were measured according to a survey conducted by polling company Ifop for September. According to the survey, 67% of the […]

Hollande’s Government Cautiously Moves Towards Pension Reform

In a televised presentation aired August 27, French Prime Minister Jean-Marc Ayrault announced the planned reform of the pension system. However as much as European officials and others in France have called for structural reform of the system, the consensus is that the socialist government’s reform is cautious. Because a system of social protections is […]

Hollande’s Struggle, Exemplified by Bastille Day

Never in the history of the Fifth Republic had a French President been so low in the opinion polls. While more than 60 % of the French people had a positive opinion of the President when he was elected in May 2012, this number has not stopped decreasing since that month. Today, it has more […]

Young, Wild, and French: Why Don’t We Leave the Country Straight Away?

A couple weeks ago, the New York Times published an article entitled “The Best Hope for France’s Young? Get Out”, relaying a French controversy triggered by a column published by Libération in 2012, inviting the young French to leave their country and its “gerontocracy”, to find jobs and fresh ideas elsewhere. If there is one […]

Hollande Unveils New Housing Plan

In a weak economy, France utilizes housing measures to alleviate financial pains. During a recent trip to Val-de-Marne, French President Francois Hollande announced that, starting in January 2014, the value-added tax for new social housing construction would be cut to 5 percent from the current 7 percent. This action is an effort to remedy the […]

G20 Summit in Moscow: Consequences of Austerity, Currency Wars, and Taxes

The G20 summit in Moscow February 15 and 16 brought the world’s leading developed nations together to refine targets and plans they made last summer and bring some new economic issues to the table.  The G20 consists of 19 countries plus the European Union, representing about 90% of the world’s gross domestic product (GDP), about […]

Crédit Agricole to Report Historic Losses in 2012

On Friday, February 1 French bank Crédit Agricole, the third largest bank in finance, confirmed that it would make a 2.68 billion euro (3.64 billion dollar) goodwill writedown of the value of its assets. Of the this, 923 million euros will come from its consumer finance sector, 852 million euros from its ownership of an […]