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Thread: Is France the elephant in the poorly-designed Euro room?

  1. #1
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    Default Is France the elephant in the poorly-designed Euro room?

    Exclusive: Worried Germany seeks study on French economy - sources | Reuters

    German Finance Minister Wolfgang Schaeuble has asked a panel of advisers to look into reform proposals for France, concerned that weakness in the euro zone's second largest economy could come back to haunt Germany and the broader currency bloc.
    "Concerns are growing given the lack of action of the French government in labor market reforms," Lars Feld, an economist who sits on the panel, told Reuters.

    Although Schaeuble raised the prospect of a report on France with members of the council this week, Feld and the finance ministry made clear that the government had not submitted a formal request. The ministry declined comment on "unofficial discussions" of the minister's affairs in general

    French President Francois Hollande, in office for roughly half a year, is under intense pressure to reform an economy that is losing competitiveness relative to its larger neighbor Germany and southern European countries that have enacted far-reaching measures in the euro crisis.

    This week, in response to calls by industrialist Louis Gallois for cuts in labor charges to reverse decades of industrial decline, the government announced it would grant 20 billion euros in annual tax credits to companies as a way of lowering labor costs.



    Is France heading towards catastrophe?

    Maybe its a prejudice but when I think of overinflated bureuacracies and stifled labour markets France comes to mind.....

    Then again to hvae survived this far relatively unharmed must prove that this is a resilient and sound economy. Doesn't it?

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    Politics.ie Member collina's Avatar
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    How come elephants always get to be in the room whereas dogs are always on the street.

    ************************************ cliches should be lined up and shot.
    If you must break the law, do it to seize power: in all other cases observe it. Julius Caesar

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    Politics.ie Member Clanrickard's Avatar
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    France circa 2050 on present trends..............


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    Is "Is France the elephant in the poorly-designed Euro room?" a contrived title for a thread?

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    France are up to their TITs in Debt .Plus there had a lunatic socialist for a leader who will run anyone with a few euros out the door.
    Give France about 15 months or so and the Swhtf , happy days

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    France is indeed in a bad place. Their unemployment at 10.8% is far worse than the UK, Netherlands, USA, Belgium, and is on par with Italy. They also have very high debt levels and a huge trade deficit. Their manufacturing as a % of total economy is the lowest in the OECD apart from Greece.

    Reform is definitely needed, and I'm not sure if Hollande is either willing or capable to do it.

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    Politics.ie Member Dublin 4's Avatar
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    Bon appetit Doomporn Voyeurs

    The number of unemployed people in France has topped three million for the first time since 1999, according to latest labour ministry figures.


    BBC News - French unemployment tops 3 million as economy struggles

    The Official French GDP $2.774 trillion

    FRANCE’S NATIONAL DEBT

    Admitted Sovereign Debt $2.261 trillion

    Loans to the Nation $214.9 billion

    Admitted Bank Guaranteed Debt $479 billion

    Dexia Guarantee $55.48 billion

    Total National Debt $3.010 trillion

    FRANCE’S EUROPEAN DEBT

    France’s Liabilities at the ECB $569 billion

    France’s cost for the EU Budget $23.2 billion

    France’s Liabilities for the Stabilization Funds $110 billion

    France’s Liabilities for the Macro Fin Ass. Fund $203 billion

    France’s Guarantee of the EIB Debt $137.6 billion

    France’s Total European Debt $1.043 trillion

    France’s National and European Debt $4.053 trillion

    France’s Official Debt to GDP Ratio 86.1%

    France’s ACTUAL Debt to GDP Ratio 146%


    The True French Debt To GDP: 146% - From Mark Grant, author of Out of the Box, and onto Wall Street | ZeroHedge

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    America is the elephant, china is the, em, buffalo, France is more like a gazelle or something!

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    Politics.ie Member Dublin 4's Avatar
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    Ok...


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    Politics.ie Member Spanner Island's Avatar
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    France is well and truly f***ed and Hollande and his cronies ain't going to fix it...

    The French are far too pampered and willing to screw future generations for that pampering...

    It should surprise no-one that France is regularly sited by lefties everywhere as the model to follow...

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