Free Republic

France is sliding into a grave economic crisis and risks a full-blown “hurricane” as investors flee rocketing tax rates, the country’s business federation has warned. Francois Hollande is tightening fiscal policy by 2pc of GDP next year to meet EU deficit targets “The situation is very serious. Some business leaders are in a state of quasi-panic,” said Laurence Parisot, head of employers’ group MEDEF. “The pace of bankruptcies has accelerated over the summer. We are seeing a general loss of confidence by investors. Large foreign investors are shunning France altogether. It’s becoming really dramatic.” MEDEF, France’s equivalent of the CBI,...

France is sliding into a grave economic crisis and risks a full-blown “hurricane” as investors flee rocketing tax rates, the country’s business federation has warned. “The situation is very serious. Some business leaders are in a state of quasi-panic,” said Laurence Parisot, head of employers’ group MEDEF. “The pace of bankruptcies has accelerated over the summer. We are seeing a general loss of confidence by investors. Large foreign investors are shunning France altogether. It’s becoming really dramatic.” MEDEF, France’s equivalent of the CBI, said the threat has risen from “a storm warning to a hurricane warning”, adding that the Socialist...

Business eager for Sarkozy revolution By Henry Samuel in Paris Last Updated: 12:12am BST 09/05/2007 Anthony Daniels: Sarkozy must ring the changesFull coverage of the French elections French business leaders looked forward with relief yesterday to a loosening of the country's rigid labour and enterprise rules following the election of Nicolas Sarkozy, the reformist Right-winger. But unions warned the new president not to try to ram through economic changes. While no business group overtly backed Mr Sarkozy against Ségolène Royal, his Socialist rival, during the electoral campaign, it was clear where their preferences lay. Miss Royal had accused Mr Sarkozy...