Wednesday, March 10, 2010

Times on France

France gets no respect here:

In the run-up to the common currency’s debut in 1999, the air was thick with talk about harnessing Germany’s economic power, then enshrined in the mark. A failure to move toward monetary union would lead only to “a preponderant influence of Germany,” Valéry Giscard d’Estaing, the former president of France, said in a 1997 interview in the French daily Le Monde.
Now, as the European Union thrashes out a possible rescue plan for debt-stricken Greece, the importance of Germany has been thrown back into relief. President Nicolas Sarkozy of France can come out and pledge all the support to Greece he wants, but in the end, it’s Germany that matters. 

or here:

Greece has been placed under E.U. fiscal tutelage, but no such intrusion has been imposed on France, for example, which has a deficit of more than twice the E.U. ceiling of 3 percent of gross domestic product.

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