French president declares economic emergency

 

French president declares economic emergency
French President Francois Hollande waves after delivering his address in Tulle, southwestern France.

Published: Mon 18 Jan 2016, 3:25 PM

Last updated: Tue 19 Jan 2016, 10:26 AM

French President Francois Hollande has declared what he called "a state of economic emergency" and says it's time to redefine France's economic and social model.
Hollande laid out a series of proposed economic measures on Monday in an annual speech to business leaders to boost long-stagnant French growth and reduce chronic unemployment.
The first measures he proposed are relatively modest, and he said they would not "put into question" the 35-hour workweek. He did not seek to assume any new emergency powers.
Hollande stressed the urgency of updating France's labour-friendly business model in a fast-moving, increasingly globalized and online economy.
The measures included a loosening of some worker-friendly measures to encourage companies to hire, and new training for half a million workers.
 
 

By Paris

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