EU on brink: France declares ‘state of economic emergency
EU on brink: France declares ‘state of economic emergency’ as Germany faces financial ruin FRANCE is in a state of economic emergency, President Francois Hollande announced today, amid fears the worsening financial situation in Germany could topple the entire eurozone. By LANA CLEMENTS at tundra tabloids
Investor sentiment plunged as the
socialist leader announced unemployment in France has surged to an
18-year high of 10.6 per cent – plunging the country into a new economic
crisis.
It comes as Germany faces the most
difficult start to a year in recent memory. Its own industrial
production growth has slipped to ZERO per cent and customer confidence
has plummeted in a catalogue of disasters for Chancellor Angela Merkel.
An increasingly desperate Mr Hollande has now said he will PAY French employers to hire people in a bid to boost
He said: “Our country has been faced
with structural unemployment for two to three decades and this requires
that creating jobs becomes our one and only fight.”
France was facing an “uncertain economic climate and persistent
unemployment” and there was an “economic and social emergency”, he said.
Firms will get €2,000 (£1,500) when they employ young, unemployed people for at least six months.
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