Published: 29 Oct 2012 10:31 GMT+01:00 | Print version
Updated: 29 Oct 2012 10:31 GMT+01:00
French President François Hollande holds talks on Monday with the heads of the World Bank and other top economic bodies to discuss the eurozone debt crisis and ways to kickstart growth.
The meeting will start at 11:00 am at the Paris headquarters of the OECD and will be followed by a working lunch and a press conference, the Elysée presidential office said.
An official told AFP that Hollande had called the meeting "to discuss international economic issues and economic and social recovery ... to spur growth, jobs and competitiveness".
Those attending include World Bank chief Jim Yong Kim, the International Monetary Fund's Christine Lagarde, World Trade Organization head Pascal Lamy, International Labour Organization Secretary General Guy Ryder and the OECD's Angel Gurria.
They will all then go on to Berlin to hold talks with German Chancellor Angela Merkel on Tuesday.
France's foreign, finance and labour ministers will also be present to "exchange expertise" at the Paris meeting where "international organizations will outline their vision of economic perspectives for developed and emerging nations," the official said.
The meeting comes amid tortuous efforts to battle the contagion threatening the euro currency zone and different approaches advocated by the heads of the bloc's two main economies – Merkel and Hollande.
Merkel is all for austerity while Hollande insists on measures that will spur growth.
At the end of July, Hollande and the OECD secretary general had agreed to hold "regular talks on economic and social matters" as well as the effects of globalization.
A member of Hollande's entourage said the French president will stress "the need for better coordination among different economies and economic organizations on a global level for regulated globalization to promote growth and jobs".
France is also trying to restore competitiveness in its domestic industry. Its share in the global market has fallen from 6.2 percent in 1990 to 3.6 percent.
A government-commissioned report has sparked outrage here by saying that France needs a "shock" to boost competitiveness and evoking the scrapping of payroll levies paid by employers by as much as 50 billion euros ($65 billion).
The idea is to shift a part of the tax burden on to workers by increasing the so-called CSG levy which helps fund the social security system.
In a bid to soothe concerns voiced by leading unions Prime Minister Jean-Marc Ayrault said the programme could be spread over two or three years and it would not be a "shock" but more of a "holistic plan".
France angrily hit back on Monday at accusations that its bid to protect Europe's film and television industries from Hollywood dominance was "reactionary". READ () »
Much of south west France and parts of Normandy in the north of the country remained on storm alert on Monday with hailstorms and heavy rain expected to batter the region until Tuesday night. READ () »
Plans to open a café in Paris, where stressed or lonely clients can stroke a cat while sipping a coffee, have angered some animal rights groups in France. One activist said he didn’t want the animals reduced to “teddy bears.” READ () »
Bars and cafes in France have long been accused of flouting the smoking ban by allowing smokers to light up on terraces that were almost entirely covered. However a court in France has ruled that the habit must be stubbed out. READ () »
A French court officially ordered the liquidation of entertainment retailer Virgin on Monday. The company has 26 stores in the country, employs 960 staff and has been in receivership since January. READ () »
Beijing has demanded that France take adequate measures to protect its citizens in the aftermath of a racist attack which saw six Chinese students beaten up in Bordeaux. A French minister said the violence had harmed France's image abroad. READ () »
The president of the European Commission slammed France on Monday for its “reactionary” stance towards globalization. José Manuel Barroso’s comments follow marathon trade talks between EU member states over a potential EU-US free trade deal. READ () »
A woman was found dead, lodged in the shutter of a charity clothes bank in south-eastern France on Sunday. The woman is believed to have suffocated after getting trapped when she put her head through the container's metal deposit door. READ () »
The world's biggest air show takes to the skies on Monday, with a battle between Boeing and Airbus for orders in the lucrative market for wide-body planes set to dominate the Paris event. READ () »
A parliamentary by-election has left the French government humiliated after the ruling Socialist party was eliminated in the first round. The run-off ballot will be fought out between the opposition UMP party and the far-right National Front. READ () »
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