For my tenth post on my blog, I was looking around for something to write about and found a site that pretty much gives an up-to-date status on the economy of France from the past couple years. The article is from www.theodora.com.
In this article, it discusses about how with the new year already here, France is trying to make the economy more reliable on market mechanisms. This article also included a few facts and statistics. It mentions how there are 75 million foreign tourists that come by to visit this country. Because of all its tourism, the income France receives makes it the third highest country in the world. France has also been able to recover from the global economic issues quicker than the other parts of the European Union. They were able to stay strong in their government and consumer spending. But in 2009, France's GDP decreased by 2.1%. In 2008, the unemployment rate was at 7.4% and increased to almost 10%.
In 2009, France wanted to help with the economic issues they were facing and to help, they passed a $35 billion stimulus plan. This money would help with the base foundation of the economy and special tax benefits for smaller businesses. The president of France also offered a $52 billion plan to help with science and technology.
Saturday, March 27, 2010
Saturday, March 20, 2010
10th post for the economy of france..
I was looking for another article to talk about France and came across another from nytimes.com. This one is about how the European Commission is trying to become more efficient with their energy by trying to utilize their nuclear power plants and to create safety standards. Also a plan of the European Commission is to eventually take these safety standards and share them with the rest of the world.
This article states that because of all this work it could be a good thing for France since they always try to sell technology more on the expensive side while other countries are trying to do the same but with cheaper alternatives. The Organization for Economic Cooperation and Development is an organization that strives to bring all countries and their governments together economically and help growth in trade world wide along with many other goals. Jose Manuel Barroso, who is part of the OECD, said that the European Union really is the first to make the initiation to bring the world together for nuclear security.
In April, if all goes smoothly, Barack Obama will conduct a meeting where all world leaders will discuss the plans for nuclear security. Now this could also be a good thing for France because according the article France is the second largest producer of nuclear energy, after the United States. The French state is in control of a nuclear contractor called Areva which sells plants and such equipments to different countries across seas. Unfortunately though, it has not done too well in the past few months.
Just a picture of the European Union logo I thought I'd post!
This article states that because of all this work it could be a good thing for France since they always try to sell technology more on the expensive side while other countries are trying to do the same but with cheaper alternatives. The Organization for Economic Cooperation and Development is an organization that strives to bring all countries and their governments together economically and help growth in trade world wide along with many other goals. Jose Manuel Barroso, who is part of the OECD, said that the European Union really is the first to make the initiation to bring the world together for nuclear security.
In April, if all goes smoothly, Barack Obama will conduct a meeting where all world leaders will discuss the plans for nuclear security. Now this could also be a good thing for France because according the article France is the second largest producer of nuclear energy, after the United States. The French state is in control of a nuclear contractor called Areva which sells plants and such equipments to different countries across seas. Unfortunately though, it has not done too well in the past few months.
Just a picture of the European Union logo I thought I'd post!
Saturday, March 13, 2010
9th for the Economy of France...
I was searching around for some more information on France's economy and came across the New York Times online, nytimes.com. Here, I found a site that talked about a company that has been around since 1690 and how France's government was able to keep this business around. They were also able to save 54 jobs that came with this company.
This company is called HB-Henriot in Quimper, France and they paint glazed earthenware by hand. It is one of the oldest companies of France but they were about lose their business when France's government came to the rescue. France held off the tax payments and gave money that would cover up to a month worth of salary for each worker. This was labor costs could be lowered and inventory without losing any employees.
They say that France has remained a strong economy compared to other countries, like Germany. Germany is very competitive, focusing alot on their exports. Which isnt the best way to be because when consumption decreased all over the world, Germany suffered.
This article claims that because of this situation with HB-Henriot, it shows that France can overcome economical issues and remain as one of the most stable economies in Europe. Another example of this would be in 2009 when France brought itself out of recession. France has always been a country that tries to save its companies. But no country is perfect and there is always room for some improvement which France is working on doing. The article mentions that now France's government to decrease growth in public spending to less than 1 percent a year from 2011.
A picture of the pottery this company creates!
This company is called HB-Henriot in Quimper, France and they paint glazed earthenware by hand. It is one of the oldest companies of France but they were about lose their business when France's government came to the rescue. France held off the tax payments and gave money that would cover up to a month worth of salary for each worker. This was labor costs could be lowered and inventory without losing any employees.
They say that France has remained a strong economy compared to other countries, like Germany. Germany is very competitive, focusing alot on their exports. Which isnt the best way to be because when consumption decreased all over the world, Germany suffered.
This article claims that because of this situation with HB-Henriot, it shows that France can overcome economical issues and remain as one of the most stable economies in Europe. Another example of this would be in 2009 when France brought itself out of recession. France has always been a country that tries to save its companies. But no country is perfect and there is always room for some improvement which France is working on doing. The article mentions that now France's government to decrease growth in public spending to less than 1 percent a year from 2011.
A picture of the pottery this company creates!
Saturday, March 6, 2010
8th blog on the Economy of France
I was trying to think of what I was going to write for my seventh post and I figured I would write about the Banque de France.
I looked it up and came across the actual site, banque-france.fr and looked for history about the Banque de France. According to this website, it was created on January 18th 1800 by Napoleon Bonaparte. Back at this time in the Revolutionary period, France's economy had taken a turn for the worse and was in a recession, therefore this was created in order to help restore the economy. Back then, France had paper money called Assignats that was used in the French Revolution. The Revolutionary Government's assignas had a downfall and the only way they believed the people's trust could be rebuilt with their money was if the Banque de France was ran separately from the government. By February 20th of 1880, the bank was officially opened. On April 14th of 1803, The Banque de France was allowed to give out paper money to all of Paris.
The Banque de France had several difficulties but fastforwarding too many years later, 1993. In 1993, there was a big event that took place that would be very important for The Banque de France. The Act of 4 August 1993 helped The Banque de France did have it credibility to be an independent Bank. Indepence for the Bank would mean that it would be a good way to help for when the European Monetary Union came into play. When the European Monetary Union formed around that time was when the Euro came ino existence, trying to bring together a common currency.
I looked it up and came across the actual site, banque-france.fr and looked for history about the Banque de France. According to this website, it was created on January 18th 1800 by Napoleon Bonaparte. Back at this time in the Revolutionary period, France's economy had taken a turn for the worse and was in a recession, therefore this was created in order to help restore the economy. Back then, France had paper money called Assignats that was used in the French Revolution. The Revolutionary Government's assignas had a downfall and the only way they believed the people's trust could be rebuilt with their money was if the Banque de France was ran separately from the government. By February 20th of 1880, the bank was officially opened. On April 14th of 1803, The Banque de France was allowed to give out paper money to all of Paris.
The Banque de France had several difficulties but fastforwarding too many years later, 1993. In 1993, there was a big event that took place that would be very important for The Banque de France. The Act of 4 August 1993 helped The Banque de France did have it credibility to be an independent Bank. Indepence for the Bank would mean that it would be a good way to help for when the European Monetary Union came into play. When the European Monetary Union formed around that time was when the Euro came ino existence, trying to bring together a common currency.
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