French President Francois Hollande has declared what he called "a state of economic emergency" and says it´s time to redefine France´s economic and social model, unveiling a EUR2b plan to revive hiring. Hollande laid out a series of proposed economic measures Monday in an annual speech to business leaders to boost long-stagnant French growth and reduce chronic unemployment. Hollande stressed the urgency of updating France´s labor-friendly business model in a fast-moving, increasingly globalized and online economy. The measures included a waiving of some worker-friendly measures to encourage companies to hire.
