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Economic "recovery is here," but "fragile" : Hollande

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(Globalpost/GlobalPost)

PARIS, July 14 (Xinhua) -- Economic recovery of France was" here," but still "too fragile," said French President Francois Hollande on Monday, promising to energize efforts and boost reforms to put Europe's main powerhouse back on sustainable recovery track.

"We got out of euro zone crisis. Recovery is here but it is too fragile, hesitant and vulnerable. It's not acceptable," Hollande said.

He added, "We are no longer in recession but in a poor recovery so I decided to quicken and improve (reforms) and not just wait for the recovery of Europe to become stronger because France cannot wait."

In a traditional TV interview on France 2 and TF1 channels to mark celebration of the National Day, the Socialist head of state reiterated that the government's "priority is to decrease unemployment."

Asked about the long rise in joblessness despite the Socialists' packages of measures, Hollande said "we have not tried everything," urging the implementation of the reform pact which incites companies to recruit more to enjoy a cut in labor charges.

"What the state will do over the coming three years: business support, tax cuts for households, budgetary savings. Everything is known, everything is on the table and nothing will be changed, then I tell business leaders to show confidence," he said.

With record low in approval rating as economic woes persist, the head of state pledged further cut in tax to improve purchasing power of low-income households.

"We will make additional efforts (in 2014-2015)... to ensure that several hundreds of thousands of French people to pay less taxes," the president promised without giving accurate figures.

Dogged by wide budget gap, high unemployment and wane growth, Hollande is betting on his "responsibility pact" and tight-belting policy to bring down deficit to 3 percent, a rate mandated by the European Union by 2015 and reach healthy finances by the end of his five-year term.

Furthermore, he intends to accelerate growth by 0.9 percent this year compared to 0.1 percent in 2013 and lower jobseekers number to below 3 million.

http://www.globalpost.com/dispatch/news/xinhua-news-agency/140714/economic-recovery-here-fragile-hollande