IMF Sees No End to French Jobless Crisis This Decade

France’s economic reforms do not go deep enough to halt long-term decline and may not cut unemployment from double-digit levels by the end of this decade, the International Monetary Fund has warned.

by Ambrose Evans-Pritchard
Telegraph.co.uk

The IMF called on president Francois Hollande to slow the pace of fiscal tightening next year to avoid an economic relapse, pouring cold water on claims that a fresh cycle of healthy growth is now under way.

“Given the still hesitant recovery, the government should ease the pace of adjustment,” it said in its annual healthcheck. It warned of “significant” contagion for surrounding states if French growth stalls again.

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