Balladur's mountain of problems. (French prime minister Edouard Balladur)

The Economist (US) | August 21, 1993 | Copyright

HIS "strong franc" policy is in shreds; unemployment is 11.6%; the French economy is sliding deeper into recession. Yet, if a presidential election were held tomorrow, Edouard Balladur, France's prime minister, would win hands down. His fans reckon Mr Balladur's ratings will continue to defy gravity. But don't bet on it. His popularity is as strong as the franc, which hit a low of FFr3.54 to the D-mark on August 15th before rallying.

Since trading bands within Europe's exchange-rate mechanism (ERM) were widened on August 2nd, the franc has fallen about 3% below its ...

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