| Author (Corporate) | France24 |
|---|---|
| Series Title | France24 |
| Series Details | 15.05.13 |
| Publication Date | 15/05/2013 |
| Content Type | News |
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France entered a shallow recession in the first three months of 2013 as the economy contracted by 0.2% because of weak exports, investment and household spending, according to preliminary data from the INSEE statistics agency published in May 2013. On the 15 May 2013, European Commission President José Manuel Barroso urged France to push ahead faster with economic reforms in return for being granted two more years to bring its budget deficit below the EU limit. On the 16 May 2013 French President François Hollande promised an 'offensive' to bring 'more growth and less austerity' to Europe as he launched a bid to resurrect his presidency. Struggling against record low approval ratings and an economy in reverse, Mr Hollande laid out proposals for closer 'economic government' of the eurozone, a drive to tackle youth unemployment and a 10-year investment plan for France. He called for an 'economic government' for the eurozone that would have a president, its own budget and a coordinated tax system. |
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| Source Link | http://www.france24.com/en/20130515-france-economy-recession-insee |
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| Countries / Regions | France |
