Money Talks | 20.11.2008 | 00:30
France Narrowly Escapes Recession
Unlike the rest of the Eurozone, France announced last week that it had escaped going into recession. This was heralded as 'good news'.
President Sarkozy said it proved that the government's policies were working. Instead of declining as expected, the French economy grew very slightly in the third quarter - by 0.14%. Compared to some of its European neighbours, France does seem to have weathered the financial storm slightly better so far. French banks have been relatively robust, and people are still spending money. Yet many parts of the economy are suffering, unemployment is rising, and analysts say the worst is yet to come.
Share this article
