Saturday, November 05, 2011

Austérité, style français

Austerity, French style.

Bloomberg reports that the French government is likely to announce early next week a series of economic changes designed to rein in spending.
France’s 2012 budget will be the most “rigorous” ever and the government may announce a tax increase for restaurants and scrap an annual holiday, L’Express reported, citing French Prime Minister Francois Fillon.
The French government is preparing to announce another set of austerity measures on Nov. 7 that could include a new rate of value added tax for sectors like restaurants as well as one less annual holiday a year for workers, according to a report on the website of the weekly magazine.
The pressure to do more with less is not new to Western economies, but the calls for cutbacks might not sit well with the French people. Could those calls lead to the so-far stagnant "Occupy Movement" in France to pick up steam?

France 24 takes a look at why the movement has not yet made a mark in France.
“France isn’t Spain, where unemployment is rife, or Greece,” said Gaby, a 22-year-old student who hopes to become a farmer. “The movement is having trouble taking off because the situation in France is not that bad, but it will get bigger soon,” added Gaby. Julie agreed. “One day the French public is going to wake up, they’re going to wake up to the fact that we’re the 99% [of people who hold only 1% of wealth]. They’ll realise that we can’t allow just 1% to decide on our future and our spending.”

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