French President Francois Hollande has declared “a state of economic emergency” by announcing that it’s time to redefine France’s economic and social model.
- The measures included a loosening of some worker-friendly measures to encourage companies to hire, and new training for half a million workers.
Key reforms:
- Creation of 500,000 vocational training schemes, additional subsidies for small companies and a programme to boost apprenticeships.
- With immediate effect, companies with fewer than 250 workers will receive a€2,000 payout for hiring youths and unemployed people on low salaries for contracts lasting more than six months.
- Temporary tax breaks, announced in 2014, will become permanent.
Keys France:
- Capital – Paris
- Currencies – Euro, CFP franc
- PM – Manuel Valls
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