Striking factory workers in France have threatened to blow up their place of employment in the latest round of hostile industrial action stalling President Francois Hollande’s economic reforms.
Employees at the Electrolux vacuum cleaner factory near the Belgian border in Revin lit a trail of wooden pallets on Tuesday that was intended to act as a fuse leading to a propane gas tank near the main building of the factory.
As goes the French economy, so goes the reelection chances of French president Nicolas Sarkozy. Although Sarkozy leads in round one, polls show that lead is shrinking at a pace that suggests he will not carry round one.
More importantly, Sarkozy is trailing again by double digits in polls for the decisive round two.
For those not familiar with elections in France, round one pits candidates from all the parties against each other on April 22. If no one gets 50%, the top two finishers square off in round two, on May 6.
PARIS — Standard & Poor’s cut France’s sovereign credit rating on Friday by one notch to AA from AA+, giving a thumbs-down to President Francois Hollande’s efforts to put the eurozone’s second largest economy back on track.
All three major rating agencies had already stripped France of its top-grade triple-A status. But S&P was the first to downgrade it for a second time, warning that the economic reforms of the past year were not sufficient to lift growth.
In a move that is seen as the launchpad for a presidential run by the youngest, and ostensibly most popular, member of Francois Hollande's cabinet, Reuters reports that France's Economy Minister Emmanuel Macron is set to resign on Tuesday, citing a source close to the former investment banker said.
French president Francois Hollande's term does not end until 2017, but for the first time ever Marine Le Pen's Front National party is on top in head-to-head polling.Her father, Jean-Marie Le Pen once shocked France by taking Front National to round two in the 2002 election, but was defeated by incumbent president Jacques Chirac who obtained 82% of the votes.
PARIS — The French president’s complex personal life — and what it means to be the first lady in modern society — may get a full airing on Tuesday as Francois Hollande answers questions for the first time since a tabloid reported he was having an affair with an actress.
Hollande’s partner, journalist Valerie Trierweiler, has been hospitalized since Friday, when the tabloid Closer published photos it said proved Hollande’s liaison with Julie Gayet. The pictures included one of a man it said was Hollande being ferried by motorcycle to an apartment where Gayet waited.
The euro area’s recovery came close to a halt in the third quarter as German growth slowed, France’s economy unexpectedly shrank and Italy extended its record-long recession.
Gross domestic product in the 17-nation euro area rose 0.1% in the three months through September, cooling from a 0.3% expansion in the second quarter, the European Union’s statistics office in Luxembourg said today. That’s in line with the median forecast in a Bloomberg News survey of 41 economists. Growth in Germany, the region’s largest economy, eased to 0.3% from 0.7%.