World Business Report Will the French allow their PM to reduce the number of public holidays?
Jul 15, 2025
Could cutting public holidays in France alleviate the national debt? Dive into the cultural pushback against this controversial proposal while exploring its economic implications. Meanwhile, a massive trade deal unfolds between the US and Indonesia, shaking up global trade dynamics. On the tech frontier, NVIDIA's return to chip sales in China is set to reshape AI innovation. The discussion also touches on the rise of etiquette coaches for Gen Z employees, addressing generational challenges in the workplace.
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France's Debt Crisis Spurs Reform
- France has had no balanced budget for 50 years, with debt nearing $3,300 billion.
- Public holidays reduction is a radical move to try to control the growing national debt.
French Work Hours and Holidays
- French people work 16% less annually compared to other Europeans, raising questions on public holidays.
- Cutting two public holidays might be a strategic move to get at least one reduction passed.
Populism Risks Financial Stability
- If populists gain power amidst debt concerns, investor caution will rise and interest rates could spike.
- France likely won't default but could face sharply higher interest costs impacting its budget.