After the apparent success of 'Abenomics' in Japan, it’s time to start talking 'Hollandenomics' in France, says Société Générale.
Reforms announced by President François Hollande in January represent a “radical policy shift” that will open “a new chapter in French economic policy”.
These include €30bn in cuts to employment taxes (funded by €50bn in public spending cuts) to encourage firms to hire more staff. Other measures should increase flexibility in France’s notoriously rigid labour markets and reduce pension liabilities.
It’s an ambitious programme, but one that stands a good chance of success, given that there is now a competent new [...]
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