On the road to a second French revolution

The proposed labor reform in France has caused massive protests in the entire country. President Hollande is starting the feel the pressure but according to an article  in the Guardian, he promised to stand firm on his decision to maintain  this new labor reform law that was voted in early May.  The nation wide strikes are causing some problems in transportation as well as fuel shortages.

However, it is more than probable that the order for the reform came from the bureaucrats in Brussels.  The non-elected officials of the EU are playing with fire when it comes to France.  Solidarity is very strong within this French speaking nation.

Both union and government representatives show no sign of backing down so we may witness even more troubles in France. Under the current law, it can take years for a company to fire someone, with special labor courts sometimes awarding settlements of up to hundreds of thousands of euros to one laid-off employee.

The permanent unemployment rate is around 11% and that number is doubled for youth. The public debt is at 96% of its GDP and the economic growth is at a stand still.  Economists are blaming the weak economy for this new labor reform.

It will be interesting to see who will win this battle. It would not surprise yours truly if Hollande would resign in the next couple of weeks. Time will tell...