PARIS (AP) — French President Francois Hollande has declared what he referred to as “a state of financial emergency” and says it is time to redefine France’s financial and social type.

Hollande laid out a chain of proposed financial measures Monday in an annual speech to industry leaders to spice up lengthy-stagnant French expansion and scale back persistent unemployment.

The primary measures he proposed are slightly modest, and he stated they wouldn’t “placed into query” the 35-hour workweek. He didn’t are trying to find to think any new emergency powers.

Hollande stressed out the urgency of updating France’s hard work-pleasant industry style in a quick-shifting, more and more globalized and on-line financial system.

The measures incorporated a loosening of a few employee-pleasant measures to inspire firms to rent, and new coaching for part one million staff.

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