France's Socialist President Francois Hollande announced unprecedented belt-tightening measures of billions of euros amid mounting discontent over the flagging economy and job cuts.
Hollande, whose popularity ratings have taken a dive less than four months after he took power, is looking vulnerable as he prepares to push through a deficit-cutting budget and face down union anger over mounting layoffs.
The Journal du Dimanche warned that Hollande -- who famously said he does not "like the rich" and has proposed a stinging 75-percent tax on income exceeding one million euros -- would announce "unprecedented" austerity measures.
It said the president outlined in an interview on TF1 television new taxes of between 15 and 20 billion euros ($19 and 25 billion) as well as austerity measures that would save 10 billion euros.
Read more: France's Hollande set to unveil unprecedented austerity plan < French news | Expatica France
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