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How France let its debt drift

2021-03-03T19:55:27.541Z

ANALYSIS - Unlike the majority of states which got into debt after the 2008 crisis, Paris has not adjusted the course after 2012, continuing to lose out compared to its European neighbors.



Debt, problem or opportunity for France?

The question has fascinated politicians and economists for a year.

The debaters are having a blast, especially since the answer is of course not binary;

many external factors (evolution of inflation, choice of the US Federal Reserve, etc.) influence it.

In this ocean of uncertainties, however, a few robust facts stand up to speculation.

All converge to draw a worrying portrait of the state of French public finances.

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Colossal stall

Unable to control its spending, Paris has systematically been in debt for twenty-five years more than its neighbors in the euro zone.

In times of crisis, governments solve difficulties by spending heavily.

In times of calm, they are content to let the accounts slip away, without tackling the difficult but essential reforms of the public sphere.

Just between the end of François Hollande's five-year term and the start of Emmanuel Macron's, the ratio

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Source: lefigaro

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