to defend his french open crown later this month. while they carry the heavy loads on their back so businessmen can avoid the import duties moroccan women pay a heavy price for a trade the loophole between spain and morocco that story and a whole lot more is coming up in just a few minutes here on state of the in news in the meantime i'm sorry i'm s. heard kelly thank you so much for your company here. frank food. international gateway to the best connection sells road and rail. located in the heart of europe you are connected to the whole world. experience outstanding shopping and dining offers and trying our services. be our guest at

frankfurt. managed by for. i. cannot go out of my will not succeed in dividing us so i don't not succeed in taking the people off the streets because we're tired of the stick trying to show up. taking the stand global lose that matters. made for mines. they came to reform france and europe one of us into a man with presidency we look at his achievements and challenges also coming up more rock n women their heavy loads so that a few business men can avoid paying important duties. welcome to you.

business now this week marks one year since france elected a man when mccall as president and since then he has wasted little time following through his campaign promises of economic and fiscal reforms the result unemployment figures have dropped slightly and the economy is taking off so has his first year in office been a success well that depends on who you ask. for a few months louis courtier has felt like he can breathe again he can finally hire people when he needs to make short term production goes without risking bankruptcy or the volumes of his small electromechanical company fluctuate constantly. yes. severance pay settlements camps. before you didn't know you might have to pay out. in a dispute you could very easily end up around the one hundred thousand euro mark. make or break for my business. now we're able to take the risk and we've just

employed someone. and others such as the lowering of taxes on capital has given employers faith in the government. giving us hope and not just because of his reforms the business climate is simply better. for the first time our country has someone in power who is on the side of business was giving up on. trade unionists are critical of reforms they say he's rapidly demolishing the country social safety net . weeds here these policies are socially unjust and benefit only the richest in the country for example has raised taxes on retirees and lower capital tax that's a step back to the nineteenth century curtailing workers' rights and opening the door for employers to negotiate directly with the workers. and the unions won't let

that happen without a fight but the business community says the reforms have not gone far enough. top of the you can ask a small business to staff itself like a big company following throws of regulations which stem from who knows where. there has to be legislation adapted to small business to lower operating costs are going to be internationally competitive and france has a massive trade deficit. so far france's young president has not been fazed by his critics for the most difficult reforms to public services and pensions haven't even begun years. so for more on that story i'm joined by karen hall an economist at efford university specializing in the history of economic ideas and she's also a connoisseur of france good to have you with us before we look at the did different kind of reforms in money when it's not the very first president to try

and reform france others have done so before just briefly how does he fare in comparison to his predecessors i think history and greats he's done very many things in very little time here depending on how you count his launched some five hundred reform measures already many of them are underway many of them have been successful you've mentioned earlier in the contribution that you can see it already and there cannot mix fear he is quite successful he knows that he has launched that legitimacy now and his therefore he wanted to start immediately and get things done in the first year to reap the fruits afterwards yeah yeah but to reap the fruits i mean it's you could look at it so far as that he's been successful but there's so much criticism i mean he's done tax reforms which include reducing the wealth tax cutting capital gains reducing the burden on let's say more affluent citizens all

of those reforms fuel criticism that he's basically just a president for the rich is there something to that well first of all the polls. still quite positive for him people think they must give him a chance so that's what they do in terms of is he a president for the rich only well what he tries to do is to get the economy into better shape to make it more competitive to attract investment to get more more job creation and things like that and for that you have to reduce taxes so in the end it will be beneficial to everybody and their criticisms and i think that's something he is quite ready to to deal with and he he just shrugs off and i think that's because he's young and energetic and and has this letter timothy you really look at the biggest challenge right now he seems to face is the reaction obviously of the french trade unions we've seen a string of strikes and it's not the end just yet who do you think who will emerge as the winner in the end. i'm pretty sure that they won't win because they're

actually friends in europe is the country with the lowest degree of organization it's only seven to eight percent i think so the trade years were important because they were responsible for the social benefits system and they no longer are he got them out of that when he reformed social security and that means they don't have the power anymore if seizure to the communist trade union gets people to the streets right now yes of course they can do that but they don't have the impact i mean like they're not attractive anymore for to the population so i'm pretty sure that michael will prevail ok what about mcconnell the big e.u. reforma he was hailed as such by all the e.u. member states how far has he come well as we know he is facing difficulties with the german partner in particular because the ideas on how to reform the eurozone the idea of creating a finance ministers post this thing they're not very popular in germany and more

ridges to bruges than in the also about not only a proposal the germans will go along with but i think what he has done is to recommend that we should think anew about europe and he has made europe a project that people take interest in and they want to talk about it and here fosters cooperation even beyond you know pete the british going out of the e.u. but he is still cooperating with them in military purposes and all foreign foreign issues that is very important so he creates several structures at the same time to keep europe together in the geopolitical sense and that's very wise ok so all in all not too bad sort of a first year of french presidency karren one economist at the effort university thank you so much for being in the studio here. shares in cloud storage company dropbox has soared around fifty percent since its stock market launched only seven weeks ago and it didn't disappoint investors in its first financial report since it

went public revenue was up twenty eight percent from last year hitting three hundred sixteen million dollars beating analysts forecast the company said the strong figures were thanks to growth of one quarter in its paid subscriber base but shares declined on the news. i was retighten j.p. morgan chase has become the latest firm to apply for a controlling stake in a chinese securities venture this is just a month after beijing put new rules in place to open up the economy previously foreign ownership of local financial companies was not allowed that's hampered growth if approved morgan will own fifty one percent of the new venture u.b.s. and japan's nomura have already applied under the new rules which china and now and soon after u.s. president donald trump visited beijing. the death of two women who were crushed in a stampede at a border crossing was brought to light

a darker side of morocco's trade relationship with spain and most of morocco is imports come by way of spain some make the thirty kilometer crossing from the spanish port of cirrus to the spanish and a c. uter on maracas northern coast and they are then transported through customs into morocco but some importers take advantage of a new poll to avoid paying customs duties namely by having the goods carried literally and its morocco's most vulnerable women who pay the price. every pace is a struggle hand to hand battle with burdens weighing up to one hundred kilos these moroccan women work as mules moving merchandise across the border from the spanish enclave of seawater into morocco. all this to get fifteen euros per trip the taxi to the border cost four euros before we even start how are we supposed to eat.

legal commerce across the border between spain and morocco or tax evasion goods carried across the border on foot don't attract import duties depending on what they carry these women earn between ten and twenty five euros a load. i. think the traders well organized by wholesalers who make a generous margin. for general model gain a bit annoyed that the moroccan state gives nothing to women what do you want that they go into prostitution no they come here they transport a packet and then they can feed their children and i don't like all that out she was a mother and her blind daughter it's handicapped women the elderly single mothers widows morocco's most vulnerable women who do this heavy work for. a few weeks ago two women were killed in a stampede crushed by the weight of the bundles now spanish authorities have

imposed stricter regulations on the trade they've demanded that the women use trolleys many say that this has only made the job harder. but these women count themselves lucky to have been able to get over the spanish authorities only allow four thousand porters per day to cross some will have to sleep rough on the spanish side of the border. some will resort to desperate measures to cross undetected with the cargo. also that a few moroccan businessmen can avoid paying import duties. that's a business update here in the w c s m o. o. o

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