January 12, 2010
"France as a model?"
As an economy? No, not yet. But we'd love it here at WAC? if the French would get back to work. Sixty-five years is a long holiday, even in Europe. President Sarkozy, a reformer who continues to impress working Yanks, wants that to happen. He's just never been sure how to get there. But the man can sell. See at Richard Lewis's Cross-Culture this week something by Jacques Méon. Excerpts:
Indeed, the French Economy has been more resilient than many other developed countries and President Nicolas Sarkozy has been quick to state that France has been one of the countries that best resisted the crisis.
The situation is in fact not that rosy and 2010 and beyond will hold many challenges for the French Economy. The pick up from the crisis is actually quite slow and quarterly GDP growth projections for 2010 are between 0.3 and 0.4%.
France is living beyond its means and President Sarkozy has again recently insisted on getting them through. One of these reforms will be the delicate one on retirement age and pension benefits, but at a time of slow economic growth, implementing all the planned reforms will not be easy.
Posted by JD Hull at January 12, 2010 11:33 PM