To: TimF who wrote (837875 ) 3/21/2015 2:37:00 PM From: tejek Read Replies (1) | Respond to That's right. France didn't implement austerity measures until 2013 [and then reversed course in 2014] like its Euro neighbors but the austerity budgets of its neighbors has hurt its economic prospects:Introduction From 2010 to 2013, the French strategy for coping with the economic crisis was slightly different from those of Spain, Portugal or Greece, where 60 to 80 per cent of deficit-reduction efforts were made through cuts in public spending. France’s initial political decision was to focus on raising taxes rather than drastically cutting public spending. France has undoubtedly been affected by the economic crisis, even if the media have put more emphasis on the impact of the crisis on neighbouring countries. In 2009, France’s GDP shrank by 3.1 per cent, compared with 2008.1 It recovered slightly in subsequent years, but France officially entered into recession in the first quarter of 2013 after its GDP decreased for the second period in a row by 0.2 per cent.2 The French government expects zero per cent growth in 2013 at best. The main consequences of the economic crisis in France have been seen in unemployment, lower purchasing power, an increase in public debt, and the impacts of austerity measures. Despite the criticism of European austerity policies by French President François Hollande (and before that by Nicolas Sarkozy) and his calls to promote growth in Europe, France has gone through several rounds of austerity measures since 2010. 2013 saw the government begin to follow the traditional austerity measures recommended at EU level, with new taxes and massive cuts in public spending . oxfam.org
