French economy

7 Stories

Hollande: I'll Turn Economy Around in 2 Years

French president responds to criticism he's being too passive

(Newser) - With the euro crisis dragging down the French economy to nearly zero growth and unemployment surging, newly elected president François Hollande said he was giving himself two years to turn around the country's economy, reports the Wall Street Journal . Hollande, France's first socialist president in 17 years,... More »

Strikes Costing France $557M a Day

But pension protests beginning to wane

(Newser) - French workers fighting a plan to raise the retirement age to 62 are costing the country's economy over $500 million a day, the nation's finance minister warned yesterday. Oil refineries have been blocked for nearly two weeks and uncollected garbage has been piling up in several cities—but the protest... More »

Cafés Squeezed as France Turns to Le Sandwich

Thousands of small eateries shut, but McDonalds is booming

(Newser) - France used to be the home of the three-hour lunch, complete with wine, cheese, and maybe some spirits to push indolent workers through the rest of their day. But times have changed, and so have eating habits—these days, reports the Washington Post, the French are scarfing down sandwiches in... More »

France Bids Adieu to 35-Hour Work Week

More hours piled on in boost to businesses

(Newser) - The French parliament has passed landmark legislation eliminating the 35-hour cap on the work week, Reuters reports. President Nicolas Sarkozy has long blamed the short week for France's economic struggles. Most employees work longer, but accumulate overtime pay or vacation days for the extra hours. Tens of thousands of French... More »

Sarkozy: 'I Made Some Mistakes'

Vows to 'stay the course' on French TV

(Newser) - French President Nicolas Sarkozy defended his first year in office in a TV interview but admitted he made mistakes, reports the BBC. It's been a rough debut. His controversial policies—met by fierce opposition in certain sectors— have failed to reverse an economic downturn, and his flashy courtship of model... More »

Mais Oui! French Prez Is Friend to Business

Sarkozy embraces entrepreneurs, pushes limits on worker's rights

(Newser) - France could see a longer work week and new limits on workers' right to strike if President Nicholas Sarkozy gets his way. He's already reduced wealth taxes on certain investments and practically eliminated the inheritance tax, the Los Angeles Times reports. But supporters insist he will not erode social benefits... More »

Sarkozy Sees Mandate for New France

Vows to bond with U.S., break with nanny state

(Newser) - Newly elected French President Nicolas Sarkozy declared an economic revolution for France and closer friendship with the United States to thousands of jubilant supporters at Paris's Place de La Concorde last night. But there were riots in Bastille and car burnings in the suburbs as disappointed Socialists reacted to the... More »

7 Stories