Emmanuel Macron’s victory in the French presidential election sent a wave of relief and euphoria across Europe. But now, a reality check is in order, because we do not yet know how the new president intends to restore the French economy. The country suffers from an unemployment rate of nearly 10%, and its manufacturing sector is still operating 12% below its level before the 2008 global financial crisis.
Macron has indicated that he does not want to increase the retirement age, change the 35-hour workweek, or make it easier for firms to dismiss workers. At the same ...
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