The recently elected President of France Fran?ois Hollande set himself not as a reformer of the budget austerity measures, but as a politician who prefers economic growth of the country.
By far the French economy has not demonstrated any positive changes, though Hollande has presented a project of stimulating the general economic advance in the European Union. The project costs mere 120 billion euro.
The offer is titled “A Pact for Growth in Europe” as opposed to the “EU Budget Pact”; the European leaders will get familiarized with it at the next EU summit in Brussels due on June 28-29.
In the Pact the French President offers to fight unemployment and restore the economic uprise by developing large enterprises in the sector of energy and biotechnologies. First and foremost, the authorities will have to improve the living standards of the population, especially of the young adults.
It is also necessary to impose a tax on the financial transactions. Holland suggests to handle financing of the growth pact to the structural funds of the EU and with the help of “project assets”, so-called collective borrowing directed to secure large investment contracts.
Now the decision of the Europe’s leaders should be awaited.
