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Hollande called the new system "balanced," "just" and "durable." "It is enterprises that create wealth and, therefore, jobs," the president said. France has been raising taxes to fill a 30-billion-euro hole in the budget and meet a deficit target of 3 percent
-- set by the eurozone -- of its 1.8 trillion-euro gross domestic product. But small and medium-sized companies are the biggest creators of jobs and drivers of economic growth, and make up 99 percent of businesses in France and the European Union as a whole. Other measures aimed at boosting the entrepreneurial spirit in France include wiping out the Bank of France notes on companies that fail "so that one can have a second or a third chance" and creating "international houses," starting in the United States and in Asia, to help medium-sized French companies to branch out abroad or encourage exports. He did not provide details or say when the government-run "international houses" would be in place.
[Associated
Press;
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