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economic crisis

Difficulties facing the French economy

by Vincent BERNOLLIN, 2014

French economy consist in severals fields of activities.

The first one is the tourism. In fact, France is the first in the world according to the numbers of visitors. Agriculture represent a big part of the economy, as in food as in forestry. Wine grower are doing a lot of exportation, especially productors of Bordelais and Cognac.

France is also a pioneer in new technologies, especially in research and medical domain. She is part of the leader in aeronautic. Airbus company is based in Toulouse. In addition, the french air fleet is huge (rafale, mirage).

However, these fields of activities that once made the growth of France are now in crisis. Other sectors of activity are also in crisis . For example, communication (post office, télécommunication), motor engineering and real estate activities. 

France is in a bad situation with the economic crisis wich affects other country of UE. Due to this situation, prices have increased.  Similar issues strike the EU. Indeed we are 18 countries in the euro area. 

The french governement has difficulties to deal with these issues. The deep causes are human factors and structural factors. First, structural factors are a clumsiness in the management of finiancal organisations. Furthermore, financial, economical, political and social risks are underestimated. There is also a lack of economic competitivity.


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