Mexican Media Brands
France’s Hollande: Europe’s Debt Crisis is “Over”
French President Francois Hollande has declared that the financial crisis that has kept the eurozone economy in recession for six consecutive quarters has ended.
#economics
Share
French President Francois Hollande has declared that the financial crisis that has kept the eurozone economy in recession for six consecutive quarters has ended.
In a speech to business leaders in Japan, Hollande says the debt crisis prompted the EU to improve its economic governance, set up a banking union and establish tougher rules on national budgets. The region now has the "instruments of stability and solidarity," he adds.
But Hollande says the region still needs to take measures to boost its economic growth and competitiveness. Eurozone unemployment has reached 12.2%, the worst since the euro was introduced in 1999.
The French president has pledged to boost the domestic job market. But big employers, including PSA Peugeot Citroen, General Motors and Michelin, are cutting jobs because of weak European demand.
RELATED CONTENT
-
Study: Border Tax, NAFTA Exit Would Hurt U.S.
The U.S. auto industry would lose at least 31,000 manufacturing jobs and 450,000 units of annual sales if the U.S. imposes 35% tariffs on cars from Mexico, as President-elect Donald Trump has vowed to do.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.