France unveils stimulus package aimed at investment

Newswire

DOUAI, France, Dec 4 (Reuters) - President Nicolas Sarkozy unveiled a 26 billion euro ($32.9 billion) stimulus plan for the faltering French economy on Thursday, targeting investment projects rather than directly aiding consumers.

France is the latest European Union country to open state coffers to try to temper the sharp economic downturn and presidential officials said the measures would cost the equivalent of 1.3 percent of gross domestic product (GDP).

The plan ...

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