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France After The Cold War Essay

932 words - 4 pages

France is a country located in western Europe. The capital is Paris and it has a population of approximately 60,424,000. France was one of the many countries impacted by the Cold War and I will be discussing the current state of the country. Today, “France is one of the most modern countries in the world and is a leader among European nations. It plays an influential global role as a permanent member of the United Nations Security Council, NATO, the G-8, the G-20, the EU and other multilateral organizations. France rejoined NATO's integrated military command structure in 2009, reversing de Gaulle's 1966 decision to take French forces out of NATO.” (World Fact Book) As of 1958, it has established an amalgamated presidential-parliamentary governing system opposed to the instabilities experienced in previous, more purely parliamentary regimes. France has a Republic system of Government. In recent decades, its association and appeasement with Germany have substantiated the European economic unification. Moreover, in January 1999, the establishment of a common currency, known today as the euro. Early 21st century, a number of existing bodies, overseas became French provinces and were made part of France respectably. These existing bodies were Martinique, Reunion, Mayotte French Guiana and Guadeloupe.
France has very diverse economic sectors. Big enterprises are partially or completely privatized by the government. Such companies include Thales, Air France, Renault and France Telecom. There are other sectors in which the government retains a strong presence, such as public transport, defense and power. The french leaders of the country are persistent in committing to a free market in which they retain social equity through tax policies, laws and social expending that reduce or diminish economic inequality. According to the World Fact Book, the unemployment rate in France has increased from 7.4% in 2008 to 10.5% in 2013. During the 3rd quarter of 2012, youth unemployment rates rose to 24.2%. Unforeseen low levels of growth and excessive disbursement on social protection have impaired the country’s public finances. France’s budget deficit had an abrupt increase from 3.4% of GDP to 7.5% of GDP in 2009. However in 2013, it improved to 4.0% of GDP, but at the same time, it’s public debt increased from 68% of GDP to nearly 94%. During Sarkozy’s presidency, Paris put strict procedures in place in order to take the budget deficit below the 3% euro-zone maximum. Socialist Prior to the presidential election, Francois Hollande who was a socialist campaigned and promoted more lenient fiscal policy, substantial state subsidy for employment, raising the top corporate and personal tax rates, and employing 60,000 more teachers during the five-year term. He won the election in May 2012. The government set a budget for 2014 which comprised a short term tax...

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