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Hollande Vows to Reform Economic Model Amid Current Joblessness 'Emergency'

© Flickr / Parti socialisteFrench President Francois Hollande
French President Francois Hollande - Sputnik International
French President Francois Hollande vowed on Monday to redefine the national economic model amid reforms that, he said, were necessary in the current state of "economic and social emergency."

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MOSCOW (Sputnik) The president rolled out a raft of economic reforms on Monday aimed at boosting growth and reducing his country’s surging unemployment rate, which stands at 10.5 percent.

"We are going to redefine our economic and social model," Hollande announced in a speech before the Economic, Social and Environmental Council (ESEC), a state consultative body.

"In the face of high unemployment, we must be able to reform, to implement a demanding economic and social model, to believe in progress," he continued, adding that a new economic model should be built "urgently but for a long term."

Among the proposed steps are measures to increase security for small and medium-sized enterprises, encourage them to take on and train more employees. The incentive will cost France over 2 billion euros.

Hollande is expected to run for his second presidential term in 2017. French media described his plan to reduce jobless rates as the last chance to rebuild trust in his economic policy, after Hollande called unemployment his top priority.

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