François Hollande and co came under fire on Thursday after new figures showed the French economy has ground to a halt. But an economist tells The Local that the stagnation is not just France’s problem.
Critics of France’s Socialist government were quick to point the finger at president François Hollande and his ministers on Thursday after the latest figures on the economy made for some sorry reading.
The French economy showed zero growth for the second consecutive quarter of 2014 forcing the government to immediately revise its growth forecasts for the year and accept defeat in its attempt to meet deficit reduction targets set by Brussels.
Luc Chatel, secretary general of the opposition UMP party said the “political credibility” of Hollande and his PM Manuel Valls has “collapsed like a house of cards”.
The government needs to change not just its policies but “it’s software”, said Chatel.
“It’s an unprecedented crisis of state finances that has hit our country…We can’t just sit and wait with our fingers crossed,” he said.
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