Growth in France Boosts Optimism in Europe

Hartlepool, United Kingdom (PressExposure) August 17, 2009 -- Earlier this week, the French government reported that gross domestic product went up by 0.3 per cent during the second quarter of 2009.

This could be particularly good news for those who are looking to buy a property in France and has already been hailed by politicians in countries such as the UK.

Business secretary Lord Mandelson, who is covering for prime minister Gordon Brown during his holiday, was among those to welcome this development.

Meanwhile, UK shadow chancellor George Osborne commented: "It is great news that we are beginning to see some signs of recovery in France."

Similar views were expressed by Liberal Democrat Treasury spokesman Vince Cable, who said the economic growth is "to be welcomed".

He stated that this is particularly good news for the UK, as France is a vital market for British goods and services.

Mr Cable added that this development has come about partly because the French government did not allow the housing bubble and debt levels to grow too much.

This, he stated, means the European country was not left "particularly exposed" to the problems in the banking industry.

French economy minister Christine Lagarde attributed the growth partly to the government's investment in the public sector during the economic downturn, as well as a strong performance by the export industry and healthy levels of consumer spending.

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Press Release Submitted On: August 17, 2009 at 5:34 am
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