Europe Puts Itself On A Crash Diet

From Spain to Scandinavia, government leaders vow to cut their budgets, and the battle lines are forming

As they make their way home from long summer breaks, Europeans seeking a reading on the economic health of their countries might contemplate how French President Jacques Chirac spent his summer vacation. In a bit of unintended symbolism, Chirac parked himself on an island fortress off the Mediterranean coast to toil away on France's 1997 budget. He might want to retreat back behind those walls after the budget's details become public. Chirac and his Prime Minister, Alain Juppe, vow to make serious cuts--cuts many union members, students, and pensioners have vowed to oppose with all their vigor.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.