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Economist Podcasts

Back to the future-planning: France

Economist Podcasts

The Economist

News, News & Politics

4.35K Ratings

🗓️ 4 September 2020

⏱️ 23 minutes

🧾️ Download transcript

Summary

Alongside a green-minded, 100bn-euro stimulus, President Emmanuel Macron’s recovery plan borrows ideas from the post-war past to imagine a post-covid future. The mysterious arrest of Paul Rusesabagina, hero of the film “Hotel Rwanda”, shows just how far the country’s leaders will go to suppress dissent. And a careful, revealing study of nappy prices across Europe. For full access to print, digital and audio editions of The Economist, subscribe here www.economist.com/intelligenceoffer

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Transcript

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0:00.0

Hello and welcome to the Intelligence on Economist Radio.

0:07.1

I'm your host, Jason Palmer.

0:10.0

Every weekday, we provide a fresh perspective on the events shaping your world.

0:17.6

Paul Roussa Begina, an activist who saved 1,200 lives during Rwanda's genocide, was charged with terrorism this week.

0:25.6

How was it he was lured out of exile? What will happen to him now? Rwanda's leadership faces many hard questions.

0:33.6

And you'd think that the European single market would cause consumer prices to converge across the block.

0:40.5

You'd be wrong.

0:41.8

Our correspondent bravely charts the costs of NAPIS to reveal the shortcomings of Europe's allegedly level playing field.

0:56.0

But first... Yesterday in Paris, French Prime Minister Jean Castex unveiled the country's coronavirus recovery plan, just as daily new infections neared an all-time high.

1:14.7

The stimulus was the first to be announced by a big economy

1:17.5

since the European Union agreed a €750 billion recovery fund in July.

1:23.5

The plan is focused primarily on boosting companies

1:26.4

and is due to run over two years.

1:28.8

But it does little to directly support consumer demand, a traditional engine of French growth.

1:34.3

Between the first and the second quarter of this year,

1:38.3

France's economy suffered its worst fall since the Second World War, shrinking by nearly 14%. The plan also includes reviving a post-war institution to ready the country for a post-COVID era.

1:51.5

With the 2022 presidential race already in mind, the economic recovery will be central to President Emmanuel Macron's re-election hopes.

2:00.5

Yesterday, France launched its response to the shock and the economic recession caused by COVID-19.

2:08.0

Sophie Petter is our Paris Bureau Chief.

2:10.7

What it did was announce an economic stimulus plan worth 100 billion euros,

2:15.7

which is one of the biggest in Europe so far, as well as a

2:19.4

commissioner whose job is to oversee more of the long-term planning of thinking about preparing

...

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