Last week, France’s President François Hollande made “a move as uncharacteristically bold as it is potentially encouraging for the cause of economic reform in France”, says The Economist. He appointed Manuel Valls, a business-friendly centrist, as his new prime minister.
France’s economy continues to languish. With high unemployment dampening consumption, and fiscal cutbacks another headwind, “a self-sustaining recovery is still out of reach”, says Morgan Stanley.
So, the only way France is going to get its burgeoning debt pile under control in the next few years is through structural reforms to raise the economy’s growth potential.
Can Valls get France [...]
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