Politics & Policies

France / The right Job Plan ?

The man charged with reviving France’s shrinking economy and attracting businesses to invest here is gaining a reputation for doing the opposite.

As the country’s first-ever minister for industrial renewal, Arnaud Montebourg has told the world’s largest steelmaker it is not welcome in France; exchanged angry letters with the head of an American tire company he was supposedly wooing; and scuttled Yahoo’s offer to buy the majority of a video-sharing website.

Montebourg, a 50-year-old lawyer from Burgundy, is the public face of President Francois Hollande’s plan to revitalize Europe’s second-largest economy, which is in recession and grappling with 11 percent unemployment. The plan is to make the French economy more competitive globally _ especially for manufacturers _ by making it easier to fire workers, offering a payroll tax credit and investing in small businesses.

Economists have praised the labor reforms as a step in the right direction. But mostly they say France’s economic plan is all wrong: It is too complicated; it favors a top-down approach to innovation; and it ignores some of the most serious problems plaguing France’s economy, such as high labor costs.

Chosen excerpts by Job Market Monitor

Capture d’écran 2013-05-21 à 12.56.29

via Does France have right plan to revive its economy? – Timesonline.com: Europe.

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