French President Declares Economic Emergency - NBC 7 San Diego
National & International News
The day’s top national and international news

French President Declares Economic Emergency

    processing...

    NEWSLETTERS

    French President Declares Economic Emergency
    AP
    French President Francois Hollande delivers a speech during a meeting with French mayors in Paris, Wednesday Nov. 18, 2015.

    French President Francois Hollande has declared what he called "a state of economic emergency" and says it's time to redefine France's economic and social model.

    Hollande laid out a series of proposed economic measures Monday in an annual speech to business leaders to boost long-stagnant French growth and reduce chronic unemployment.

    The first measures he proposed are relatively modest, and he said they would not "put into question" the 35-hour workweek. He did not seek to assume any new emergency powers.

    Hollande stressed the urgency of updating France's labor-friendly business model in a fast-moving, increasingly globalized and online economy.