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Government economic policy aims to promote investment and domestic growth in a stable fiscal and monetary environment. Creating jobs and reducing the high unemployment rate has been a top priority. The Government of France has successfully reduced a double-digit unemployment rate in excess of 10% to 8%-9%, recently. France joined 10 other European Union countries in adopting the euro as its currency in January 1999. Henceforth, monetary policy will be set by the European Central Bank in Frankfurt.

The May 1958 seizure of power in Algiers by French army units and French settlers opposed to concessions in the face of Arab nationalist insurrection led to the fall of the French government and a presidential invitation to de Gaulle to form an emergency government to forestall the threat of civil war. Swiftly replacing the existing constitution with one strengthening the powers of the presidency, he became the elected president in December of that year, inaugurating France's Fifth Republic.

While France continues to revere its rich history and independence, French leaders increasingly tie the future of France to the continued development of the European Union (EU). During President Mitterrand's tenure, he stressed the importance of European integration and advocated the ratification of the Maastricht Treaty on European economic and political union, which France's electorate narrowly approved in September 1992.

France is a founding member of the European Union, and its largest member state with respect to land area. France is also a founding member of NATO and the UN, and a permanent member of the UN Security Council. It is one of only seven acknowledged nuclear powers in existence.

Legislation passed in 1998 shortened the legal workweek from 39 to 35 hours effective January 1, 2000. A key objective of the legislation is to encourage job creation, for which significant new subsidies will be made available. It is difficult to assess the impact of workweek reduction on growth and jobs since many of the key economic parameters, such as the impact on labour costs and company's ability to reorganize work schedules, will depend on the outcome of labour-management negotiations which should extend through 2000 and beyond. See 35-hour workweek.

Metropolitan France extends from the Mediterranean Sea to the North Sea, and from the Rhine River to the Atlantic Ocean; it is bordered by the United Kingdom, Belgium, Luxembourg, Germany, Switzerland, Italy, Monaco, Andorra, and Spain. The French Republic also shares land borders overseas with Brazil, Suriname, and the Netherlands.

France surrendered to Nazi Germany early in World War II (June 24, 1940). Nazi Germany occupied three fifths of France's territory leaving the rest to the new Vichy collaboration government established on July 10, 1940 under Henri Philippe Pétain. Its senior leaders acquiesced in the plunder of French resources, as well as the sending of French forced labor to Nazi Germany; in doing so, they claimed they hoped to preserve at least some small amount of French sovereignty. The Nazi German occupation proved costly, however, as Nazi Germany appropriated a full one-half of France's public sector revenue.

Louis XVI's reign (1774-1792) saw a temporary revival of French fortunes through intervention (1778-1783) in support of Britain's rebel American colonies. But the over-ambitious projects and military campaigns the past century had produced chronic financial problems. Deteriorating economic conditions, popular resentment against the complicated system of privileges granted the nobility and clerics, and a lack of alternate avenues for change were among the principal causes of the French Revolution. This led to the formation of the First Republic on September 21, 1792.

The constitution does not contain a bill of rights in itself, but its preamble mentions that France should follow the principles of the Declaration of the Rights of Man and of the Citizen, as well as those of the preamble to the constitution of the Fourth Republic. This has been judged to imply that the principles laid in those texts had constitutional value, and that legislation infringing on those principles should be found unconstitutional.

France has an important aerospace industry (lead by Airbus Industrie) and is the only European power to have its own national space centre. France is also the most energy independent Western country due to heavy investment in nuclear power, which also makes France the smallest producer of carbon dioxide among the seven most industrialised countries in the world. Large tracts of fertile land, the application of modern technology, and EU subsidies have combined to make France the leading agricultural producer in Western Europe.

The gouvernement, or cabinet, is headed by the Prime Minister of France. It has at its disposal the civil service the government agencies and the armed forces. (The term "cabinet" itself is rarely used in this sense, even in translation, as it is used in French to mean a minister's private office. In French, the word gouvernement can refer to government, but generally refers to the cabinet.)

Current President Jacques Chirac assumed office May 17, 1995, after a campaign focused on the need to combat France's stubbornly high unemployment rate. The center of domestic attention soon shifted, however, to the economic reform and belt-tightening measures required for France to meet the criteria for Economic and Monetary Union (EMU) laid out by the Maastricht Treaty. In late 1995, France experienced its worst labor unrest in at least a decade, as employees protested government cutbacks.

The national government of France is divided into an executive branch, a legislative branch and a judiciary branch. The President of France has some direct executive power but most of the formal power resides in his appointee the Prime Minister of France, the choice of which in practice has to be approved by the French National Assembly, the lower house of Parliament (see below for a discussion of the division of power between the President and Prime Minister). Parliament passes statutes and votes the budget; it also controls the action of the executive through questioning and enquiry commissions. The constitutionality of the statutes is checked by the Constitutional Council. Finally, the independent judiciary is divided into the judicial branch (dealing with civil and criminal law) and the administrative branch (dealing with recourses against executive decisions), each with their own independent supreme court. In addition, the French government comprises various bodies checking against possible abuses of power and independant agencies.