France declares economic emergency

French President Francois Hollande has declared a state of economic emergency to redefine France’s economic and social model.

Under the ambit emergency, government has proposed series of economic measures to boost long-stagnant economic growth and reduce chronic unemployment.

Proposed economic measures are

  • Training half a million jobless workers, greater use of apprenticeships and aiding companies for hiring young workers.
  • Updating country’s labour-friendly business model in an increasingly online and border-free economy.
  • Loosening rigid working time rules including 35-hour workweek and a bonus of 2,000 euros to small businesses that hire young people.
  • Integrate youth from France’s troubled suburbs especially minorities who face job discrimination into the global economy.

These measures will be included in draft economic reform laws which French government is going to present in parliament.

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Categories: International Current Affairs 2018

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