President Francois Hollande presented a fresh fiscal outlook for the struggling French economy to 30 or more international business executives on 17 February. The meeting included representatives from corporate staples such as Volvo, Intel and Nestle, in addition to financial chiefs from China and various Gulf nations. France, the European Union’s second-largest economy, has experienced few positive fiscal trends during Hollande’s tenure. As a result, business leaders are seeing fewer opportunities in the country. France’s[Read More…]
Post Tagged with: "Financial Crisis"
After approving the 2014-2020 European budget on November 14 in the European Union’s budget committee, deputies of the EU voted on November 19 in plenary to put the motion into effect on January 1. The budget proposal passed with a vote of 537 to 126 with 19 abstentions. The deal includes a high-level working that uses the EU’s “own resources” to keep the Parliament’s income and spending in check. By passing this budget, the EU Parliament has lowered[Read More…]
Eurozone manufacturing numbers plunged in July to their lowest level in three years, according to newly-released macroeconomic data. A fall of 1.5% in industrial output was reported across the 17-country Eurozone, instead of the 0.1% increase forecast by economists. The drop, reported by European Union statistics agency Eurostat, raises serious questions about whether European leaders can sustain a promising, but still uncertain, economic recovery. Germany, the EU’s largest economy and a perennial manufacturing powerhouse, posted[Read More…]
In a televised presentation aired August 27, French Prime Minister Jean-Marc Ayrault announced the planned reform of the pension system. However as much as European officials and others in France have called for structural reform of the system, the consensus is that the socialist government’s reform is cautious. Because a system of social protections is deeply ingrained in French society, anytime it comes under question or revision debate, controversy, and protests are sure to follow.[Read More…]