- economy - France - Nicolas Sarkozy - unemployment
French unemployment is currently at eight percent according to European Union statistics, and it's expected to rise alongside a slowing economy and the fallout from the credit crunch.
As French President Nicholas Sarkozy announces steps to prevent job cuts and stimulate the economy, we'll be debating how realistic his plans are. Indeed, France is already dealing with large budget deficits, in addition to paying for a 360 billion euro bank bailout plan. And this after Sarkozy said earlier this year that state coffers were empty.
So can France really afford three hundred thirty thousand subsidized job contracts while it increases job training programs and invests more in developing sectors like information technology?
Eric Toussaint, President and Founder of the committee for the abolition of Third World debt.