The Current Eurozone – an impediment to critical French reform
AbstractFrance currently needs deep structural reforms to boost competitiveness; but such reforms seem impossible while France remains in the straitjacket of the rules-bound transfer union that is the current Eurozone. High outstanding sovereign debt coupled with almost zero economic growth pose a real challenge to the French economy saved only by the relatively low government bond yield but this is subject to market swings. An unacceptably large proportion of the French workforce is trapped in long-term unemployment with the most affected part of the population being the young and older workers suffering from long term unemployment because of the adverse incentives brought about by a social safety net financed by taxing labour.
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Bibliographic InfoPaper provided by Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research in its series Working Papers with number 42.
Date of creation: Mar 2013
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Euro; transfers; internal devalution; current account; public debt; inflation.;
Find related papers by JEL classification:
- J45 - Labor and Demographic Economics - - Particular Labor Markets - - - Public Sector Labor Markets
- H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
- J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
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