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Recession in France

  • May 27th, 2013
  • Posted by EU Australia

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The French President Francois Hollande marked one year in office this month (6.5.12) with a slight recovery in his popularity, but no sign of relief for a weak economy.

France edged into recession with a negative growth figure for the month, -0.2%, with unemployment at over 11%, versus the EU average of 12%.

Committed to moderating austerity measures, on the premise that cutting back would block growth and recovery, he declared for seeking more concerted action on jobs and growth by the European Union.

See EUAustralia Online, Elections: France, Greece …, 7.5.12.

Success for that plan would be a long time coming in 2013, and Mr Hollande has opted now to bring on a liberalisation of labour market laws, to facilitate easier hiring and firing, and mobility from job to job.

The President’s approval rating in several polls headed for collapse last month, down by six points to 25%, astoundingly low for a first year in office; but has since picked up by 4%, with a return of defectors from his own Socialist Party support base.

Reference

BBC, London, French economy returns to recession, 15.5.13.
http://www.bbc.co.uk/news/business-22536197, (27.5.13).

Le Monde (with AFP), Paris, Hollande perd six points de popularité, record des “mécontents”, (Hollande loses six popularity points, record number disaffected), 21.4.13. http://www.lemonde.fr/politique/article/2013/04/21/hollande-perd-six-points-de-popularite-record-des-mecontents_3163593_823448.html#xtor=EPR-32280229-[NL_Titresdujour]-20130421-[titres], (20.5.13).

Reuters, London, French President Hollande’s popularity inches up: poll, 26.5.13.

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