The birds of bad omen are liars: the sky of debt has never fallen on our heads.
For fifty years that it has been increasing and that the public accounts have been exploring the color chart of reds from bright to scarlet, we have been promised a catastrophe that never happened.
In 1982, France posted less than 300 million euros of debt, but Jacques Delors, Minister of Finance, exploded in the face of Jean-Pierre Chevènement (Jean Peyrelevade, Réformer
la France): “I've had enough.
I can't take this anymore.
We can no longer borrow, there is no more money!”
There must have been more, finally, since in 2005, the bar of 1000 billion euros of debt was crossed.
The banker Michel Pébereau, killjoy among the killjoys, split a report calling for a break with twenty-five years of
“culture of spending”
and
“ease of debt”
, which have become
“destructive routines” .
Seven years later, the debt had risen again, to 1700 billion.
This time, lightning...
This article is for subscribers only.
You have 80% left to discover.
Want to read more?
Unlock all items immediately.
TEST FOR €0.99
Already subscribed?
Login