“President Francois Hollande is politically weakened with his approval rating at an all-time low of 17 percent, and France could be falling into another recession. The French economy could be on the brink of becoming the latest sick man of Europe. Unemployment is higher than at any time since the late 1990s and has not fallen below 7 percent in nearly 30 years – creating chronic joblessness in the crime-riddden banlieues of France’s big urban areas. France has not balanced its books since 1974 and public debt stands at over 90 percent of GDP and is rising. Statistics released this week revealed French manufacturing confidence fell to the lowest in 13 months in August.”
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