French President declares economic emergency

French President Francois Hollande has declared what he called “a state of economic emergency” and says it’s time to redefine France’s economic and social model.

The first measures he proposed are relatively modest, and he said they would not “put into question” the 35-hour workweek. He did not seek to assume any new emergency powers.

The measures included a loosening of some worker-friendly measures to encourage companies to hire, and new training for half a million workers