Francois Hollande unveils €2bn economic plan

French president Francois Hollande has pledged to redefine France’s business model and declared “a state of economic and social emergency”.

The announcement came as he unveiled a €2bn plan to revive hiring and catch up with a fast-moving world economy.

The measures he proposed, however, are relatively modest, and he said they would not “put into question” the 35-hour work week.

With his country under a state of emergency since the Paris attacks in November, Hollande did not seek to assume any new emergency powers over the economy.

In an annual speech to business leaders, he laid out plans for training half a million jobless workers, greater use of apprenticeships, and aid for companies that hire young workers.

Hollande’s Socialist government has struggled to boost long-stagnant French growth or reduce chronic unemployment, which has been at around 10% for years.

His chances of winning a potential second term may hinge on whether jobs pick up before next year’s presidential vote.

Hollande stressed the urgency of updating France’s business model in an increasingly border-free, online economy.


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