• France's news in English

Hollande applauds anti-austerity Abe in Japan

AFP/The Local · 7 Jun 2013, 08:50

Published: 07 Jun 2013 08:50 GMT+02:00

Facebook Twitter Google+ reddit

French President Francois Hollande said Friday the big spending and ultra-loose money aimed at boosting Japan's flagging economy was "good news" for austerity-weary Europe.

Speaking in Tokyo, where he is on a three day visit, he noted the apparent early success of policies implemented by Japanese Prime Minister Shinzo Abe in his bid to end 15 years of growth-sapping deflation.

"The Japanese government has taken a number of measures since Mr Abe's team came to power," he told reporters. "It is not for me to judge them, they are a matter for Japan.

"But the priority given to growth and the fight against deflation, along with the emphasis on competitiveness for business... is good news for Europe, because in Europe we also have to give priority to growth."

France is leading a growing charge in Europe against Germany's insistence on fiscal discipline as the eurozone tries to dig itself out from under a mountain of uninspiring economic news.

In a draft document released in April, Hollande's Socialist Party pilloried German Chancellor Angela Merkel for her "selfish" insistence on austerity as the solution to Europe's debt crisis.

It said she was obsessed with "Berlin's trade balance and her electoral future".

Since his election a year ago, Hollande has vowed to tip the main focus of Europe's economic recovery efforts towards growth rather than austerity.

Story continues below…

Japan's Abe announced huge fiscal stimulus measures and pressed the country's central bank into a huge easing programme as he tries to get the economy moving after years of its treading water.

Although the sheen has somewhat dulled after steep falls in the last two weeks, the Tokyo stock market had lapped up the moves, rising by around 80 percent at its highest point.

AFP/The Local (dan.macguill@thelocal.com)

Facebook Twitter Google+ reddit

Your comments about this article

Today's headlines
Calais migrants given mixed reception in French towns
Photo: AFP

Some in France have shown solidarity with their new guests, while others have made it clear they are not welcome.

Lonely Planet says Bordeaux is world's best city to visit
The fantastic new Bordeaux wine museum. Photo: AFP

After The Local France, the Lonely Planet has followed suit by urging everyone to head to Bordeaux in 2017.

Jungle shacks set ablaze and torn down as camp razed
All photos: AFP

IN PICTURES: The razing of the Jungle has finally begun.

Frenchwoman finds WW1 grenade among her spuds
Photo: AFP

It could have been a very explosive family dinner.

Refugee crisis
What rights to a future in France for Calais migrants?
Photo: AFP

What does the future hold for the migrants of the Jungle? Can they work or claim social benefits or travel freely inside Europe?

Pampers nappies 'contain carcinogenics': French study
Photo: Robert Valencia/Flick

The substances in the nappies are meant to prevent skin irritation but are cancerous, the study concludes.

France to scrap special prison wings for dangerous jihadists
Photo: AFP

The experiment has been ditched.

Myth busting: Half of French adults are now overweight
A model at the Pulp Fiction fashion show in Paris that represents society's diverse spectrum . Photo: AFP

Hold on, aren't the French all meant to be finely toned specimens with not an ounce of fat on them?

France poised to send bulldozers into Calais Jungle
Photo: AFP

As hundreds of migrants leave, the bulldozers are set to tear down the sprawling Calais shanty town on Tuesday.

UK to spend €40 million on securing Calais border
Photo: AFP

Britain spending big on security in Calais.

The annoying questions only a half French, half Brit can answer
Sponsored Article
Last chance to vote absentee in the US elections
Forget Brangelina's chateau - here are nine others you've got to see
The must-see French films of the millennium - Part One
How life for expats in France has changed over the years
Why Toulouse is THE place to be in France right now
Video: New homage to Paris shows the 'real side' of city
The 'most dangerous' animals you can find in France
Swap London fogs for Paris frogs: France woos the Brits
Anger after presenter kisses woman's breasts on live TV
Is France finally set for a cold winter this year?
IN PICS: The story of the 'ghost Metro stations' of Paris
How to make France's 'most-loved' dish: Magret de Canard
Welcome to the flipside: 'I'm not living the dream in France'
Do the French really still eat frogs' legs?
French 'delicacies' foreigners really find hard to stomach
French are the 'world's most pessimistic' about the future
Why the French should not be gloomy about the future
This is the most useful French lesson you will ever have. How to get angry
Why is there a giant clitoris in a field in southern France?
French pastry wars: Pain au chocolat versus chocolatine
Countdown: The ten dishes the French love the most
Expats or immigrants in France: Is there a difference?
How the French reinvented dozens of English words
jobs available