But disappointed in France's progress
He adds:
- French growth remains disappointing
- French recovery is trailing euro zone
Earlier today, France's President Hollande said that the French economy was in a "state of emergency". He announced a €2 billion plan to subsidize job creation and temporarily move a half-million hundred more people off the welfare rolls. Unemployment is at 10.6%. Youth employment is at 25.7% and 3.5 million people are seeking work. GDP is grew at 1.1% YoY through the 3Q.
