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Chaos in the Foreign Exchanges

In: The Case for a New ECU

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  • Jacques Riboud

Abstract

In May 1981, the Socialist Party won power in France. Its election manifesto had promised a cut in the working week to thirty-five hours, an increase in the statutory annual paid holiday from four to five weeks, and the right for everyone to retire at sixty-five. All of this was to be achieved without any cut in pay levels, and in addition there was to be a programme of large-scale expansion of the workforce in the public sector and the nationalisation of a range of big companies. There was no doubt at all that this radical change of direction was an event of major importance for France, but not only for France: it was equally important for the European Community of which France is a member, but the leaders of the French Left never for a moment stopped to wonder what their neighbours, the Germans, might think of their plans.

Suggested Citation

  • Jacques Riboud, 1989. "Chaos in the Foreign Exchanges," Palgrave Macmillan Books, in: The Case for a New ECU, chapter 19, pages 176-183, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-09730-2_19
    DOI: 10.1007/978-1-349-09730-2_19
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