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Baluarte
03-31-2013, 01:11 AM
President François Hollande pleads for France's support

Beleaguered Socialist party leader defends 75% supertax on rich and appeals for calm as France teeters on brink of recession


François Hollande has appeared on live television to try to convince France he has a clear vision to steer the country out of the global economic crisis.

However the Socialist party president warned he had no magic wand to protect France against the pressures squeezing the country.

With rocketing unemployment, stagnant growth and record-low personal popularity ratings, Hollande made a direct appeal for the French population to cut him some slack, given the scale of the country's problems. "I have to succeed because the country cannot wait. The crisis continues, my duty is to get France out of the crisis," he said.

"I am confident in France. We are a country of great innovation … I need all French people, whatever their economic and social place. I am counting on our entrepreneurs."

If viewers were looking for determination and a global vision, however, they were given a mix of detail and generalisations. "What are my priorities … my priority is growth. I want France to have growth. I have a duty to restore growth.

"Today, we have lower growth than expected, so I'm asking for an effort from everyone," Hollande said. "It's true we have asked businesses to make an effort above all those who have an international market … but everyone must participate."

Ten months into his mandate, Hollande has the worst presidential popularity rating since 1981, according to a TNS Sofres poll for the centre-right Le Figaro magazine. Surveys show the French president has the support of only 27% of voters.

Even leftwing supporters who backed Hollande in the May 2012 elections have been questioning his handling of the economy, which is teetering on the brink of recession amid a spate of industrial layoffs and unemployment at a 15-year high. Prime Minister Jean-Marc Ayrault's rating also fell 5 points to 28%.

Unemployment figures on Tuesday showed the number of jobless rose to 3.17 million last month, the highest since July 1997. Hollande has admitted that stuttering growth would make it harder to fulfil his pledge to stem the rise in unemployment by the end of 2013. "French people are asking 'Can we get out of this? Can we be the best?'," he said.

The president stood by his controversial temporary 75% "supertax" on high earners, rebuffed by France's highest court last year as unconstitutional. "I hope to introduce the 75% rate of tax … I will respect the decision of the constitutional court," Hollande said. "Those who have the highest salaries … cannot they make an effort for two years? I've always said it will be difficult for the next two years for everyone."

He said pursuing a politics of austerity would lead to unwelcome results: "You want to see extremists, even neo-Nazis in Europe … where is the European interest? To prolong austerity risks not reducing deficits but at the same time risks populist governments.

"I will not follow policies that lead Europe into austerity. Other European countries say only France can say these things."

Asked about the French military operation in Mali, Hollande said: "We have stopped a terrorist offensive … today, that France that was regarded as a coloniser is regarded as a liberator."

Loki
03-31-2013, 01:19 AM
75% supertax on rich, wow. They should implement it in Britain to make the Tories cry crocodile tears. :p