Der Euro in Europa - Frankreich
adjusted unemployment has risen every month apart from one since the introduction
of euro notes and coins. France has lost over 100,000 jobs in the last year.
French President Jacques Chirac has said, “France is less active – we have high
unemployment and we are eleventh in the EU” (Le Monde, 8 May).
consumer association, the UFC, has calculated that an average shopping basket
for a French family costs 10 percent more after the changeover. UFC surveyed
the prices of 55,000 items in 1,040 major retailers over the past two years
and found that the price of some fresh goods had more than doubled and that
shampoo, soap and some beauty products had increased by 40 percent. A recent
report in the Independent showed that 96 percent of French people thought that
prices had gone up since the introduction of the euro.
in France has been sluggish, at 1 percent in 2002, compared to 1.6 percent in
2001. Growth is expected to be disappointing in 2003 as well, with several economists
predicting growth of less than 1.5 percent.
has undermined the stability of the euro several times since notes and coins
were launched by ignoring the rules of the Stability Pact. France has a high
budget deficit (officially 2.8 percent in 2002, but many suspect that France
has already broken the 3 percent limit). Despite receiving an “early warning”
from the Commission, France is refusing to take the necessary steps to reduce
its structural deficit, saying that it has “other priorities”. Several leading
figures in the Eurozone have said that such behaviour is undermining confidence
in the euro.