This article is about France's future, and the upcoming presidential election that they are having. Regardless of who the candidates are, the point of the article is how all of the candidates are not truly acknowledging or tackling the major issues that France has coming up, such as high taxes-- the candidates are merely making 'promises' of what they're going to do. Some of France's major problems is that their public debt is at 90% (haven't balanced their books since 1974), unemployment is high (hasn't fallen below 7% in 30 years), the banks are undercapitalized, and more. The harsh reality is that France cannot ignore the ugly truth and that they must face reality. I find it interesting to see how the lack of realism that the French have will affect their future.
http://www.economist.com/node/21551478
7 comments:
If the French leaders continues to ignore all the problems they are currently facing how would that effect the world, not just France. It is interesting that the safety net the European countries have with all the backing they have, lead to some of them completely ignoring how they could change their economic course to a more positive and growing economy.
It is interesting to see the ignorance from the France government towards all those economic situations. With those many issues, France is still surviving through the 2008 crisis, which is an amazing thing to see as well. I wonder how other Euro countries respond to this situation in France, since it is definitely one of the key member of the Europeans.
The problem in France seems similar to the political problems of America, where politicians often are only thinking in terms of short-term success. This is a problem systemic in democratic systems where voters reward those who bring the most short-term gain as well as those who underplay the real, pressing issues facing the country down the road.
I agree with the previous statement that some European countries may be taking advantage of their safety net. France, who is obviously better off than other European countries, should be working on strengthening itself and fixing its problem areas so that the euro zone is strengthening and can help their struggling countries.
I think the situation which France finds its economy in today is caused by how there economy and political systems interact. The political leaders allowed for huge government programs without the economic growth or funding to support them and it has left a the economy in shambles. It will now take a political to craft a plan that hurts the services provided in the short term to regrow and economy that is dynamic and able to suppor the future.
I think the situation which France finds its economy in today is caused by how there economy and political systems interact. The political leaders allowed for huge government programs without the economic growth or funding to support them and it has left a the economy in shambles. It will now take a political to craft a plan that hurts the services provided in the short term to regrow and economy that is dynamic and able to suppor the future.
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