Friday, July 29, 2011

"Golden Rule" vs "Socialist Austerity"

Pierre Moscovici, who is "coordinating" François Hollande's campaign, opposes Sarkozy's "golden rule" (a foolish and misguided balanced budget amendment to the constitution) but insists that the PS will reduce the deficit to the Maastricht limit of 3% by 2013 if elected in 2012.

Moscovici : un déficit à 3% dès 2013

by Europe1fr


MYOS said...

I fail to see how it's feasible to reduce the deficit from 7.6% to 3% in a year, let alone with what the Ps plans on doing (based on its "programme").

FrédéricLN said...

A giant increase of taxes (for example, to set the VAT at 30 or 33% instead of 19.6%) would make it. I doubt the Socialists really think of it this way.