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Francois Hollande Admits Socialist Policies Failed, Declares “Economic State Of Emergency”

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By Tyler Durden (Zero Hedge): 18 January, 2016

Since 2012, when Mr Hollande came to power, more than 600,000 people have joined the ranks of the unemployed at a time when joblessness has decreased in most of the other large European economies.

Well for Francois Hollande, the days of hiding behing manipulated data are over and the open kimono reveals a nation whose stability is wracked by record unemployment. In a desperate-for-re-election speech today, The FT reports that socialist leader Hollande admitted his policies needed reform and that France is an economic “state of emergency.”

In a turn towards pro-business policies (sacre bleu!), Hollande prescribed new measures which involve the creation of 500,000 vocational training schemes, additional subsidies for small companies and a programme to boost apprenticeships.

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Photo Credits: © Rémi Jouan, CC-BY-SA, GNU Free Documentation License, Wikimedia Commons

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