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The Macron plan matters for Turkey

12 4 13
09.09.2017
Looking for a reason why the eurozone was so ineffective in combatting its economic problems? Look at the French inaction in dealing with problems of its own. The country has been lagging behind economically, socially and politically for the past decade, while Germany ploughed ahead to be leader of Europe.

President Emmanuel Macron of France has finally decided to do something about this. He unveiled a plan for less rigidity in the French labor market. If it manages to improve the performance of the French economy, that is good news for Turkey, too. Let me elaborate.

So could it work in France? Well, a similar plan worked perfectly well in Germany. No, Germany is no France. But look at recent performance. German unemployment rate peaked at around 12 percent in 2005 and then declined to single-digit numbers starting from 2007. In 2005, the French unemployment rate was........

© Hürriyet Daily News