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ArtikelFrench Reform; WishfulTthinking  
Oleh: [s.n]
Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 405 no. 8805 (Oct. 2012), page 16-17.
Topik: Germany; Europe; France; Francois Hollande
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Isi artikelNext to the turmoil and rage on the streets of Athens and Madrid, the anti-austerity manifs this weekend in Paris were pretty tame. In the first demonstrations against the Socialist president, Francois Hollande, a few tens of thousands marched peacefully. No barricades were erected, no cobblestones hurled. France, the euro zone's second-biggest economy after Germany, has so far been spared the social upheaval--as well as the austerity--that has marred the battered periphery. Yet France has grave economic woes of its own. Unless Mr Hollande takes courageous steps this autumn to resolve them, he risks undermining the currency area's very core. France is a large, rich country and the world's fifth-biggest economy. Although one credit-rating agency has stripped it of its triple-A status, its borrowing costs have fallen to historic lows. Household debt is modest. Per hour worked, French employees are productive. A high birth rate gives France a long-run advantage: in the next 25 years its population could even overtake Germany's.
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