The Great Depression France

1959 Words8 Pages
The Start to the French Depression: Another country that suffered just as much as the United Kingdom had was France. Causes of their downward spiral were due to an underdeveloped economy. France’s industry was far inferior to Great Britain’s, particularly in farming. Tourism was also a big part of France’s economy, and during this time, many individuals simply did not have the money to travel around the world. France, like the United Kingdom, also suffered to recover from World War I. While not as bad, France relied heavily on German reparations, to pay for reconstruction. Once reparations had ceased, the Depression in France took place. Starting in 1931, France did not recover from the Depression until the remainder of the decade. During…show more content…
French businessmen saw a devaluation coming. Many sent funds abroad, further impairing the economy. The French economy did not decline further after the sharp 1932 decline, but it also did not recover. The econmy stagnated for 3 years. Unemployment and industrial production in 1935 were basically the same as in 1932. [Hill, p. 37.] The left-wing parties increasingly attacked the Government and charged it with a callous social outlook. Tardieu defended his policies and warned that the left-wing parties (Communists and Socialists) would bring further economic decline, anarchy and ruin. The end result would be the Popular Front. The Popular Front: In 1935, the parties of the left (socialists, communists, radicals) founded the POPULAR FRONT which won the election of 1936; socialist LEON BLUM formed the new administration. t was the first time that the Socialists got more seats than the Radicals and the Socialist intellectual leader Léon Blum became the Prime Minister of France, apart from being the first Jew to hold the office. The Popular Front came to power with the command from its supporters of distributing wealth more fairly. The Government did five main things, which can be shown in the Matignon Agreements: it created the right to strike (and there would be no retribution against strikers), collective bargaining, a law that ordered 12 days of paid Annual leaves for workers, a limited work time per week
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