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Austerity, the reluctant choice of Antoine Pinay to straighten the country

2022-08-12T14:10:03.900Z


THE MINISTERS WHO RESTORED FRANCE'S ACCOUNTS (5/5) - Minister of Finance under de Gaulle, this moderate ensured the political backing of Jacques Rueff's audacious plan.


A few ministers have stood out throughout history for their desire to restore public finances.

A look back at four centuries of solutions to reduce the country's debt.

In 1958, France rediscovered a phenomenon forgotten for some years, inflation.

In all departments, prices are soaring.

In the summer, the increase exceeds 15% over one year, real wages fall and the population struggles to pay its bills.

At the same time, French production threatens to plunge as the American recession hits the Old Continent.

All the economic signals are thus turning red, against a backdrop of acute political crisis.

Stuck in the Algerian war, the Fourth Republic lives its last hours.

The Algiers putsch of May 13 precipitates the end of the regime.

In this chaos, the “

most illustrious of the French

” formed a government of national unity to settle the “

three cases which threaten France: Algeria, the reform of the State and the financial situation

”.

Looking back over the past few decades...

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Source: lefigaro

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