French ministers cut pay by 30%
French president Francois Hollande’s new Socialist-led government adopted a 30% pay cut today, a gesture of shared sacrifice by leaders who must now reduce the country’s massive debts and tackle spiralling unemployment.
The new cabinet’s first meeting, just a week after conservative former leader Nicolas Sarkozy last convened his government, marked a sharp shift in France’s power structure and strategy for solving Europe’s debt crisis and managing the economy.
