Monday, June 29, 2009

IMF Backs France's Economic Policy

A new report issued today:

France has taken decisive actions to address the domestic impact of the financial crisis and the unprecedented global contraction. Crisis management needs to remain a cornerstone of near term policies, but a renewed focus on medium-term fiscal sustainability and a deepening of the country’s ambitious structural reform agenda will help to minimize the longer-term costs of the current downturn.


Hmm. That's a rather more optimistic read than I would have expected. And what does it say about the likelihood of a Sarko-DSK face-off in 2012? "You criticize me now," Sarko could say, "but back in 2009 your staff gave my policies its blessing."

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