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« The Collapse Is Intensifying And Something Terrifying Is On The Horizon | Main | What Crisis Is The Gold/Oil Ratio Predicting This Time? »

France's Hollande sets out plan to tackle 'economic emergency'

Photo courtesey of RT.

President Francois Hollande pledged Monday to spend more than 2.0 billion euros ($2.2 billion) on tackling France's "state of economic emergency".

Hollande said he would pump in funding to address the stubbornly high unemployment that has dogged his four years in power, and promised it would not come from tax rises.

The opposition greeted the plan with scorn because Hollande has linked his ability to cut the joblessness to his bid to win re-election in 2017, but the president dismissed suggestions that the measures were "artificial".

"These two billion euros will not be financed through extra taxes of any kind. They will be financed by savings," Hollande said in a New Year's speech to business leaders.

He said one billion euros would be spent on training schemes for unemployed people.

Joblessness, which stands at around 10 percent or 3.57 million people in the eurozone's second-largest economy, was the "only issue that ranks above security for the French people", the president said.

read more.....

Not looking at all good for the French nation.

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