Paris has been seeing taxi shortage and frustration in people due to the same. But, a recent report has claimed that it is just one sign of the competition-killing rules.

The rules have been limiting the access to a number of professions. The European Union said that these have also been stunting the French economy.

It is being said that President Francois Hollande is to formulate the plans so as to bring the cartel-like behavior to an end in different professions. These professions may include notary, taxi driver and veterinarian.

The report finds that this is despite varied calls made from Brussels to cut bureaucracy. The president's unwillingness to risk a row with powerful interest groups is a hint for the restrictions to his appetite for reform. On the other hand, many economists are of the belief that more competition was likely to give a boost to the faltering economy.

As per the report, the European Commission is expected in the month of September to boost pressure on member states. They would be asked to deregulate under EU provisions, said a European source.

"These are reforms that bear fruit straight away. When you introduce competition, you have new players and so you create jobs and you reduce prices straight away", affirmed Philippe Gudin, Barclays chief European economist.