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France: Steering Out of Crisis?

In: Europe and the Financial Crisis

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  • Susan Milner

Abstract

In many ways, the banking crisis and economic recession provided less of a shock to the French economy than in many other countries.1 To start with, France has been managing the tensions of internationalization and the constraints of coexistence within the Eurozone for some time now, and the crisis merely amplified these. Moreover, the continued steering and regulatory role of the French state ensured that the worst excesses of financial deregulation were largely avoided and later provided reassurance of prudential management, allowing confidence to be restored. Finally, France’s elaborate system of social protection acted as a shock absorber, mitigating the impact of crisis.

Suggested Citation

  • Susan Milner, 2011. "France: Steering Out of Crisis?," Palgrave Macmillan Books, in: Pompeo Posta & Leila Simona Talani (ed.), Europe and the Financial Crisis, chapter 10, pages 183-197, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-30500-7_11
    DOI: 10.1057/9780230305007_11
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