Leader predicts "long, hard crisis" for French economy

03/4/2009 | Sun (Baltimore), The

The economy of France, the world's sixth-largest, will likely contract by as much as 1.5% this year, French Prime Minister Francois Fillon warned. Although the figure is "less bad than in most other European countries," he said, the downturn is expected increase unemployment by about 300,000 and push France's budget deficit up to 5% of GDP, in violation of the EU's 3% limit for eurozone members.

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Sun (Baltimore), The

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