During his official visit to Japan, President of France Francois Hollande declared that the debt crisis that has been ravaging Europe for years is over. The President made it clear at the summit meeting on the French-Japanese trade relationship. Hollande also emphasized in his statement the key role of Paris in free trade negotiations. Moreover, the French President underlined the positive attitude of the French to the economic policy of Japan. The plan of new Prime Minister Shinzo Abe is composed of three pillars – growth strategy, increasing government spending, and debasing the yen. Despite the fact that many analysts are concerned about the actions of Japan and afraid of a probable currency war, Francois Hollande thinks that there is nothing to worry about. Unlike optimistic France, Germany is still insisting on the government expenses' cut. Angela Merkel reminded about the necessity of sticking to the budget discipline and reforming the eurozone's labor market. The experts recorded the stable economic reduction for the sixth consecutive quarter, as well as the longest recession period since the European Union foundation in 1999.
