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Francois Hollande was elected on an anti-austerity ticket, but has to deliver on spending cuts (Photo: Francois Hollande)

IMF warns France on falling behind Italy and Spain

The International Monetary Fund (IMF) has warned France it needs to cut labour costs and taxes or else risk falling behind Italy and Spain, which are undergoing deep reforms.

"The growth outlook for France remains fragile reflecting weak conditions in Europe generally, but the ability of the French economy to rebound is also undermined by a competitiveness problem," the IMF wrote in its annual country review published on ...

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Francois Hollande was elected on an anti-austerity ticket, but has to deliver on spending cuts (Photo: Francois Hollande)

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