An American observer comments on French politics.
I especially like the debt projections for Italy over the next 30 years. Germany is going to be so jealous of these prospects.
Art Goldhammer draws attention to a discussion at FT Alphaville comparing some French and the Greek long term debt projections made the OECD in 2010. They show a strong resemblance between the two countries.Does this mean France is likely to face the same fate? One cannot rule it out, but there are too many differences between Greece and France, all of them in France's favour.It is a much richer and more sophisticated state and despite its high deficit and debt ratios, it should have a better chance than Greece of getting matters under controlBut then again the dynamics of the debt and budget deficit reduction plans under the fiscal austerity programme will be very similar in principle in France as in Greece, Spain and Italy.Read the rest at http://eurotwit.blogspot.fr/2012/07/france-and-austerity-no-bets-thank-you.html
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