THE BIG RECESSION IN FRANCE

The General Economic Decline 2008

Introduction


The Great Recession in France: To understand how it affected France, we must start from the beginning. It started with the attack of Al Qaeda against the Twin Towers of EEUU (2001), this crisis reached its critical point in 2008 with the bankruptcy of...

French Government is a Semi-Presidential Republic (democracy) and it consists on: An Executive branch - President - Chief of State, Cabinet of Ministers...

France before the crisis seemed stable, it wasn't running a huge deficit as we can see in the chart. Beetween 2000 and 2008 the range of the deficit difference was from -1.32% in 2000 to -3.26% in 2008...

Changes in labor force characteristics such as legal barriers to renegotiate contracts and lay off workers, made firms favored avoiding to recruited

Public finances were debilitated, the government took fiscal policies based on the increase in the net tax while maintaining net spending equal, so they could reduce budgets deficit...

9th economy by purchasing power parity. 6th exporter economy and 4th importer of manufactured goods. Mixed economy: vast private sector plus strong government intervention...

Vulnerable collectives were the first in which the social effects of the crisis were shown, as also whose suffered the worstThose collectives were young...

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Falsterity: "France slips into new recession amid higher taxes"

― RT

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