French President Nicolas Sarkozy proposed measures worth 2.6 billion euros on Wednesday to assist low-wage workers, youth, and the unemployed affected by the economic crisis.
The proposals include the establishment of "social investment fund" of 2.5 to 3 billion euros to finance retraining and further education for the unemployed. The government will provide half of the funding for the fund. Other measures include a one-time payment of 500 euros for certain groups of unemployed individuals, a one-time payment of 150 euros for families with children and low incomes, and tax relief for about four million lower-middle-class households. Sarkozy presented the proposals during a meeting in Paris, dubbed a social summit, with union leaders and employer representatives. After the meeting, the French president stated on national television that the assistance was offered in "the spirit of fairness" so that "the most vulnerable do not suffer due to the economic crisis." (H)
