| Author (Person) | Pop, Valentina |
|---|---|
| Series Title | EUObserver |
| Series Details | 15.01.14 |
| Publication Date | 15/01/2014 |
| Content Type | News |
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Measures to help the French economy and European issues occupied a great deal of François Hollande’s major speech to the press on the 14 January 2014, with the restart of the EU's Franco-German engine and strengthened fiscal and social convergence in the eurozone at the centre of the French president's reform agenda. The French President pledged to cut €50bn in government spending over 2014-2017 and give French firms tax breaks in order to help the eurozone's second-largest economy. According to France24 the reform proposals represented a significant change in strategy for President Hollande who had until then resisted the kind of austerity packages and tax cuts for businesses that had been seen in numerous other European states such as the UK and Spain. However, Hollande denied that his economic reforms represented a policy U-turn or shift away from his Socialist ideals, but were rather an 'acceleration' of a direction he had been heading in since his election. Berlin said that Mr Hollande's reforming economic strategy was "courageous". On the 12 February 2014 EurActiv reported on the French Court of Auditors' doubts about the 3% public deficit target set by the French government. The Winter 2014 forecast by the European Commission published in February 2014 also offered little hope that the French deficit will be brought below 3% by 2015, contrary to France's pledges. The French National Institute of Statistics and Economic Studies (INSEE) showed in March 2014 that French public debt decreased in 2013, but was still higher than expected. |
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| Source Link | Link to Main Source http://euobserver.com/economic/122731 |
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| Countries / Regions | France |
