Hollande Challenges Unions on Labor Law as Stagnation Sets In
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French President Francois Hollande challenged unions to allow companies greater labor flexibility, taking on his traditional allies to promote economic expansion as he cut growth forecasts to below 1 percent.
Hollande gave himself a two-year window to fix the economy as he announced a freeze in government spending and 30 billion euros ($38 billion) in deficit-reduction measures to be included in next year’s budget to reach his fiscal targets.