France represents a market
of 63 million consumers and is situated at the heart of the worlds biggest
market, the European Union, with some 493 million citizens. In 2006, France was
the 3rd leading economy in Europe and the 5th leading economy worldwide. It is
the 4th leading exporter of services and the 5th leading exporter of goods.
subsidiaries of international companies employing a total of almost 2 million
people in France.France represents a market of consumers with
high spending power, and is situated at the heart of the world’s biggest
market: the European Union, which now has 493 million citizens. The French
market is also supported by the 75 million tourists who visit the country each
year, making France the leading tourist destination in the world.
France is very open to
foreign talents: in 2005, France welcomed 256,000 foreign students and nearly
20,000 international research scientists.
France has a long tradition
of industrial activity, and today has 2.5 million companies. Major French
corporations have successfully adapted to the globalization of the economy.
For example, 11 French
corporations are ranked among the top 100 companies in the world: Total (12th),
Axa (15th), Crédit Agricole (19th), Carrefour (25th), BNP Paribas (34th), PSA
Peugeot Citroën (60th), Société Générale (67th), Electricité de France (68th),
France Telecom (71st), Suez (96th) and Renault (100th).
There are also 48 French
companies ranked among the 200 leading companies in Europe (source: Forbes).
France has leading
companies in many different sectors:
Automotive: Renault Nissan, PSA Peugeot
Energy: Total, Areva, EDF, Gaz de France.
Agro-food: Danone, Pernod Ricard
Consumer goods distribution: Carrefour
Pharmaceuticals: Sanofi Aventis
Transportation: Air France-KLM, Alstom
Luxury goods: L’Oréal, LVMH
Banking and insurance: Axa, Crédit Agricole,
France has 20,000
international subsidiaries in all sectors of business activity (INSEE, March
2006). These subsidiaries employ almost 2 million people, a figure that has
doubled in 10 years: 1 employee out of every 7 (which is more than 14% of the
total number of employees in the private sector) works for a subsidiary of an
international company. This is more than in Germany, the United Kingdom or the
As of December 31, 2006,
46.5% of the French CAC 40 companies stock was held by foreign investors.
The acquisition of French
companies by international companies continues to increase: in 2006, this
totaled 40 billion dollars (Thomson Financial).
In 2006, foreign direct
investment in France reached 58.4 billion euros. France was the 4th leading
destination for inward FDI between 2003 and 2005.
France has 20,000 subsidiaries of
international companies employing a total of almost 2 million people.
Acquisitions of French companies by
international companies reached 40 billion dollars in 2006.
Portugal successfully sold bonds,
temporary relief from the concerns of investors and politicians. While Germany and the UK The good economic data, but also to pick up
2011 to “defend the euro” has become Europe’s politicians are
basically the same slogan. German Chancellor Angela
Merkel recently often say that “if the euro fails, Europe will fail.”
Even the claim that confidence in the euro against the Euro Group Chairman
Juncker of Luxembourg, it was also strongly urged to stabilize the euro and the
euro issue bonds, and has a dispute with Merkel. Because Merkel does not agree to issue Eurobonds, do not want to expand
the size of the euro rescue fund.
This is why Germany is facing an embarrassing situation. Germany, Europe’s leaders are willing to do, but do not want to pay too
much for the rest of Europe. The result is that, in dealing with the debt crisis, the German
government’s policy of not allowing European allies satisfied, we can not
please the people
It seems other members in the euro area, Germany as a new division of
Europe’s economic leader, and the duty to defend the euro should assume primary
responsibility. In fact, last year, € 110 billion rescue plan in Greece, Germany to Greece
to provide 224 million euros in bilateral loans. After the € 750 billion in bailout plan, Germany has provided € 148
billion in loan guarantees. In fact, because the Germans do not want to “pay for the mistakes of
others”, the money was not a happy. The beginning of the Greek rescue plan is not accepted by Angela Merkel,
Germany’s European allies are therefore criticized. Although the German Federal Parliament finally approved a rescue plan
twice, but almost all the opposition abstaining, the German voice of public
opinion is a bad-mouthing. As the opposition party had already made clear the euro rescue plan for
the dissatisfaction, the ruling party in local elections.
Dissatisfaction with the status quo of all, the Germans against the German
mark obsession. Earlier an agency survey, 56 percent of Germans are more willing to use
Deutsche mark, only 43% of people believe that the euro is the right choice in
Germany. More exaggerated, according to the German Federal Bank, to the end of
2010, as well as nearly 70 million German marks in the market,
“Circulation.” That is, in use for 12 years after the euro, many Germans still clutching
the hands of many of the German mark.
Implementation of the German mark in 2002, the euro exchange rate of 2:1,
full use of the euro, the German people were not only thin purse, prices have
almost doubled. Although statistics show that
from 1987 to 1998, is still using the German mark in Germany, the German
inflation rate up to 5.1% in 1999 so far, the highest inflation rate in Germany
is only 2.6%. But the Germans insisted that, relative to the euro, German mark more
firm. On the other hand, is the
German people do not want the so-called “problem countries” to pay,
out of trouble you can just feel the euro, German mark back to the “good
If Germany really leaving the euro, the euro zone could really existed in
name only. In fact, this