Introduction:
Although ultimately a victor in World Wars I and II, France suffered extensive losses in its empire, wealth, manpower, and rank as a dominant nation-state. Nevertheless, France today is one of the most modern countries in the world and is a leader among European nations. Since 1958, it has constructed a presidential democracy resistant to the instabilities experienced in earlier parliamentary democracies. In recent years, its reconciliation and cooperation with Germany have proved central to the economic integration of Europe, including the introduction of a common exchange currency, the euro, in January 1999. At present, France is at the forefront of efforts to develop the EU's military capabilities to supplement progress toward an EU foreign policy.

Location: Western Europe, bordering the Bay of Biscay and English Channel, between Belgium and Spain, southeast of the UK; bordering the Mediterranean Sea, between Italy and Spain
French Guiana: Northern South America, bordering the North Atlantic Ocean, between Brazil and Suriname
Guadeloupe: Caribbean, islands between the Caribbean Sea and the North Atlantic Ocean, southeast of Puerto Rico
Martinique: Caribbean, island between the Caribbean Sea and North Atlantic Ocean, north of Trinidad and Tobago
Reunion: Southern Africa, island in the Indian Ocean, east of Madagascar

Population: total: 62,752,136
note: 60,876,136 in metropolitan France (July 2006 est.)

Languages: French 100%, rapidly declining regional dialects and languages (Provencal, Breton, Alsatian, Corsican, Catalan, Basque, Flemish)
overseas departments: French, Creole patois

Country name: conventional long form: French Republic
conventional short form: France
local long form: Republique francaise
local short form: France

Capital: name: Paris
geographic coordinates: 48 52 N, 2 20 E
time difference: UTC+1 (6 hours ahead of Washington, DC during Standard Time)
daylight saving time: +1hr, begins la

Economy - overview:
France is in the midst of transition from a well-to-do modern economy that has featured extensive government ownership and intervention to one that relies more on market mechanisms. The government has partially or fully privatized many large companies, banks, and insurers. It retains controlling stakes in several leading firms, including Air France, France Telecom, Renault, and Thales, and is dominant in some sectors, particularly power, public transport, and defense industries. The telecommunications sector is gradually being opened to competition. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that reduce income disparity and the impact of free markets on public health and welfare. The government in 2006 focused on introducing measures that attempt to boost employment through increased labor market flexibility; however, the population has remained opposed to labor reforms, hampering the government's ability to revitalize the economy. The tax burden remains one of the highest in Europe (nearly 50% of GDP in 2005). The lingering economic slowdown and inflexible budget items probably pushed the budget deficit above the eurozone's 3%-of-GDP limit in 2006; unemployment hovers near 9%.