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"The government does not intend to lower the debt before 2025 ... It is much too late"

2021-01-22T06:10:45.910Z

EXCLUSIVE - Faced with the urgency of the health crisis, France is plunging more than ever into the spiral of debt. A trap denounced by Agnès Verdier-Molinié, the director of the iFRAP Foundation, in an essay from which Le Figaro Magazine publishes extracts.



Excerpts chosen by Ghislain de Montalembert

Fresh cash to keep running.

2020: the mega-shooting room to finance France injects 1 billion per day.

The French have the right to know the truth.

Our future hangs by a thread: the professionalism of a small government agency, Agence France Trésor.

About forty people in an open space.

Agents under contract who could just as easily work for banks or in the trading room.

They are our debt mercenaries.

Read also:

Why does the debt weigh on the following generations?

Their agenda is precise: 22 times a year they place medium and long-term debt, we say in the jargon the OAT.

For debt at age 8 and over?

It's the first Thursday of the month at 10:50 am For debt between 2 and 8 years?

It's the third Thursday of the month at 10:50 am What about the 13, 26 and 52 week short-term debt?

So there it is Monday with payment on Wednesday.

We call it BTFs.

Their specificity is that very quickly they will have to be reimbursed, but precisely because

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Source: lefigaro

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