Word: mitterrand
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...spent the final days before her return calling on leaders in London and Paris. "If my husband didn't remain in Gorky," she said after meeting French President Francois Mitterrand, "I would never return there." Her jitters were evidenced by a request that two U.S. Congressmen accompany her back to Moscow. Underscoring the importance of Western pressure on the Soviets, Bonner told reporters in Paris, "Nothing that you do can jeopardize us. On the contrary, every public step is useful...
More than ever, the market economy has been in vogue since President Francois Mitterrand's Socialists narrowly lost the national elections last March. Under a complex power-sharing arrangement that the French refer to as cohabitation, Mitterrand has taken the lead in foreign policy while the newly appointed conservative Premier Jacques Chirac has had the greatest influence on domestic matters. The dynamic Chirac wasted no time in launching a sweeping reform of the French economy, which has been slow to join the current recovery in Western Europe...
...innumerable constraints that eventually became part of this system were regulations governing the prices of everything from cement to haircuts, and work rules that made it difficult and costly to fire redundant employees, which frequently discouraged companies from hiring or expanding. The Socialists, who came to power following Mitterrand's election in 1981, augmented the dirigisme tradition the following year by nationalizing 38 French banks and nine industrial groups...
...fairness to the Socialists, they did prepare some of the groundwork for Chirac's reforms. After a disastrous jump in prices, Mitterrand's party in 1983 adopted a more pragmatic, market-oriented program that brought down inflation from a 1981 high of 14% to about 4% last year. Chirac's regime also inherited a much improved energy outlook. The recent decline in world oil prices will lop $9 billion off France's 1986 bill for petroleum imports. These trends, plus Chirac's initiatives, have increased business confidence. In the past twelve months, stocks on the Bourse have enjoyed a spectacular...
...most capitalist countries, the political fortunes of France's leaders tend to rise and fall with the success of their economic programs. Chirac will undoubtedly challenge Mitterrand for the presidency in the elections scheduled for 1988. From a business point of view, his prospects so far look promising...