Hollande’s growth agenda defies critics

Output by French industry rebounded sharply in April while French and German business optimism jumped, lending some evidence to upbeat claims by President François Hollande that the euro crisis is over.

However unemployment in the eurozone is not expected to drop until next year and there is little sign of a reduction in poverty levels, especially among the hardest hit eurozone countries.

The French head of state has been pushing for the EU to concentrate on growth-enhancing measures following his recent decision to spend €2.5bn over the next five years improving job prospects for poorer people and the youth.