Tagged with Manuel Valls

France’s ‘rigid’ labour market: Manuel Valls should get his facts right

Manuel VallsThe French Prime Minister has revived the idea that the French labour market is overly protective of permanent employees. However, international comparisons show that this is not the case, argues Duval Guillaume

The functioning of the labour market is not satisfactory because it is not creating enough jobs, it generates significant inequalities between highly protected employees on permanent contracts and very precarious workers on fixed term  and agency contracts. We need to take action on this.”

So French prime minister Manuel Valls told France’s weekly magazine Nouvel Observateur on 22 October. Continue reading →

French PM ploughs on with austerity but at what price?

Manuel VallsTranslated by Tom Gill  from the French original by Guillaume Duval

Despite the political thunder of the European elections of 25 May, France’s President and Prime Minister Manuel Valls chose the moment to stay the course of their “stability program” presented a month earlier to the National Assembly and approved by it after a fraught debate. This document, submitted to the European authorities, describes the economic policies to be implemented by the French government over the next three years, that is to say until the end of François Hollande five year term. In return for a significant €41 billion reduction in business taxes, decided under the so-called ‘responsibility pact’, the government aims to cut €50 billion from public spending by 2017 to maintain France’s commitments in terms of deficit reduction. This is a social, political and economic gamble with very uncertain outcomes. Continue reading →

Three reasons why French Socialists are right to oppose PM Valls’ austerity plan

Manuel VallsFrance’s ruling socialist party is in revolt. A very vocal minority don’t like the austerity plan of new PM Manuel Valls. And they are threatening to vote it down. Here’s 3 reasons why they are right. (Translated by Tom Gill from the original by Christian Chavagneux )

France’s new prime minister – now three weeks into his job – last week unveiled a swinging austerity plan. Although the mix of measures is different than previous policy announcements, it is essentially the same thrust of economic policy aimed at limiting public deficits to win ‘business competitiveness’ and restore purchasing power to households that has been pursued for a number of years. And they are not working. Here’s why: Continue reading →

Blairites, Valls and Renzi, offer little hope for Eurozone

reddish Euro flagValls and Renzi, the new prime ministers of France and Italy respectively, have made clear their respect for Blair and their intention to follow his example. That’s bad news for the Eurozone and for the EU in general. Blairism is not an economic ideology, but rather a style of leadership that is far more about presentation than substance. So far from representing any new economic ideas, it swallowed the existing free markets capitalist fundamentalism hook, line and sinker. That’s why following the Blairite line in France and Italy, both countries in deep economic difficulty, is likely to be so self-destructive. Continue reading →

French socialist revolt continues

hollande-et-parti-socialisteThe revolt in France’s socialist party continued this week as details of a fresh austerity plan were unveiled by new Prime Minister Manuel Valls.

Valls has announced a 50 billion euro austerity plan to be funded largely by cuts to pensions, a freeze in public servants’ salaries and cuts to public services.

The announcement was “received as a slap in the face by some Socialist MPs who expected at least a gesture to the left”, L’Humanité reported. However, the majority are expected to back the plan when it goes before parliament next April 30, despite the pounding the party received in local polls late last month amid a tightening of the austerity screw. Continue reading →