French president declares economic emergency

Published: Monday 18th January 2016 by The News Editor

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French president Francois Hollande has declared “a state of economic emergency” and said it is time to redefine France’s economic and social model.

Mr Hollande laid out a series of proposed economic measures in an annual speech to business leaders on Monday 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 work week. He did not seek to assume any new emergency powers.

Mr Hollande stressed the urgency of updating France’s labour-friendly business model in a fast-moving, increasingly globalised 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.

Published: Monday 18th January 2016 by The News Editor

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