Nicolas Sarkozy’s most inspiring electoral pledge was that he would reward those who get up early, the millions of overlooked and over-taxed workers who bake the nation’s croissants, drive its trains and put in extra hours in the office. The French president’s laudable mantra has been: hard work must pay.

To some extent, Mr Sarkozy has been delivering on that promise. By cutting taxes on overtime, he has encouraged employees to work more than the statutory 35-hour week. He has launched intensive consultations with employers’ federations and trade unions to simplify complex labour laws. Thanks to the surprisingly resilient economy, the unemployment rate has fallen to 7.9 per cent, its lowest level in two ­decades.