Post Tagged with: "economic crisis"

Hollande’s Struggle, Exemplified by Bastille Day

Never in the history of the Fifth Republic had a French President been so low in the opinion polls. While more than 60 % of the French people had a positive opinion of the President when he was elected in May 2012, this number has not stopped decreasing since that month. Today, it has more or less stabilized around 25%, a number even Sarkozy — one of the most hated Presidents of all time —[Read More…]

France, Europe’s Second Largest Economy, Officially in a Recession

The recent announcement by the INSEE (National Institute of Statistics and Economic Studies) that France is “officially” in a recession has the French wondering just how serious the economic situation has become. Investment and exports are both on the decline, and household consumption is at its lowest in the past thirty years. All together the economy fell by 0.2% of GDP in the first quarter (January to March). The economy shrank by the same amount[Read More…]

Hollande Seeks to Rally Support at Press Conference

François Hollande, facing approval ratings of roughly 25%, the lowest of any French president over the past 50 years, and opposition from within his own party, tried to rally support in a press conference last Thursday, May 16. Since his election last year, Hollande’s poll ratings have steadily declined, apart from a brief boost following France’s intervention in Mali. Hollande, who is plagued with a stagnant economy and an unsatisfied political base, laid out plans[Read More…]

French Unemployment Rate Reaches All-Time High

French Labor Minister Michel Sapin released March’s job figures Thursday, April 25, which showed that Europe’s second largest economy is continuing to flounder during the economic recession. The unemployment rate reached 3,224,000, the highest yet for France. This latest joblessness figure surpasses the previous record high in January 1997 by nearly 30,000 unemployed citizens. This is the 58th consecutive month since May 2008 that the unemployment rate has risen, adding to a trend of negative[Read More…]

Cour des Comptes Urges France to Review Unemployment Benefits

In the midst of the Euro zone crisis, France faces its own economic problems. The country’s state audit office, the Cour des comptes, has urged the government to review the funding of unemployment benefits for French citizens, saying that the current system is “unsustainable”. The Cour des comptes labeled the benefits as costly and ineffective, since the funds are not reaching those who need them most. According to the Cour’s January 22 report, the current[Read More…]