New blow for French leader; will he stay course?

March 24, 2014 • Business

French President Francois Hollande attends the opening session of the Nuclear Summit in The Hague, Netherlands, on Monday, March 24, 2014. (AP Photo/Yves Logghe, Pool)

PARIS (AP) — France’s unpopular president faces a moment of truth after his Socialist Party suffered a drubbing at the polls and the far-right made advances across the country.

Will his package of spending cuts and reforms wither and die like so many previous efforts to reform France’s economy, following the setback suffered by his party in the first round of municipal elections on Sunday?

France, Europe’s number 2 economy, has been generating a lot of negative headlines and Francois Hollande thinks it needs to move with the times to boost growth and bring down sky-high levels of unemployment.

His new approach, outlined earlier this year, is not what he promised voters in the presidential election of 2012. His Login to read more

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