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Pressure builds on France's Hollande over EU debt plans

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"anti-austerity feeling"

I have an anti-austerity feeling myself. I'm tired of not being able to buy that yacht and that Lexus I've wanted for so long.

Merkel is right when she says you can't spend more than you take in.

-1 ( +1 / -2 )

I don't know enough about the actual situation to judge whether or not this is the case.

France like many other european countries (and the US) are spending too much on social needs and not bring enough in. Spending includes welfare, healthcare, police, fire, education, government pay, etc

Think of making 500 and spending 700. You take 200 on credit. Now the loan collectors want their money.

Those in power do not feel the pain because they make 150k or higher. The only people feeling the pain are the poor and middle class

-1 ( +0 / -1 )

A very good example of a politician telling the voters what they want to hear. Wonder what he will tell them when Germany gets tired of paying for his voters who retired at 60 to sit on the beach? Tax the rich 70%? If he don't close the borders and put out armed guards they will be moving to warmer climes... do you want to work your a$$ off while your neighbor sits home, watches the telly all day and meets you on Friday with his hand out for part of your paycheck?

0 ( +2 / -2 )

No wonder companies are going to china. Stay in your country and get taxed 70%+. Go to china and get low tax and low tariffs.

Hmm

-1 ( +1 / -2 )

"Wonder what he will tell them when Germany gets tired of paying for his voters who retired at 60 to sit on the beach? Tax the rich 70%?"

Most of the rich in France, like M. Hollande himself (estimated 10 million € fortune), have intricate systems in place that make them nigh on invisible to the tax man, and/or keep their fortunes hidden offshore.

The system is rotten to the core yet the majority of the French have deluded themselves into thinking voting the left into power will change this, or allow them to keep ridiculously generous benefits when the economy is tanking deeper in debt by the hour.

I have no confidence in this man, but he was democratically elected so let's see what he can do.

I'm predicting at this point he will renege on all his promises and say "Oui Madame" to Europe's cheque-book in Berlin much to the horror of those that voted for him.

-1 ( +0 / -1 )

Oh, and with parliamentry elections coming in June, I'm suspecting the FN will make further gains, making a bad situation worse.

Bad times for France ahead.

-1 ( +0 / -1 )

France like many other european countries (and the US) are spending too much on social needs and not bring enough in. Spending includes welfare, healthcare, police, fire, education, government pay, etc That's not the problem. France has money (ie they lend money to Greece or Spain regularly).

At the end of WWII, through Bretton Woods system, USA imposed new commercial and financial rules to the world. At that time, USA (safe from any destruction of its territory), owning the biggest amount of gold in the world, planned a system to ensure its economical domination over the world. One of the new measure was, for a country, to borrow money from the market and not from its national central bank. France didn't apply this rule until 1974 => its were the national dept started.

Nowadays, private banks make huge profits over countries national dept, making CEOs and share holders richer.

Even USA have bad times ahead since they're loosing the world economic leadership.

Hence, there's another way to build new economic world. Starting with the liberty of choosing to borrow money at a lower rate.

-1 ( +0 / -1 )

"Starting with the liberty of choosing to borrow money at a lower rate."

And how is that going to be achieved?

I don't know if you've noticed, but when you're deeply in debt (as France is), you don't go to the bank calling the shots.

0 ( +0 / -0 )

I really wish the French left would have the honour and integrity to at least try and defend their positions.

0 ( +0 / -0 )

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