Noyer says 'market model' has lessons for France

The Scandinavian economic model, combining market flexibility with a high degree of social protection, "is full of lessons for countries such as France, Germany and Italy", said Bank of France governor Christian Noyer in an interview.

Asked about last month's appeal by UK Prime Minister Tony Blair for Europe to rethink its social model, Noyer told the Financial Times in an interview: "I tend to agree with that."

"These countries ... have mixed a greater level of flexibility in labour and produc