If not for the socialism, and the highly anti-democratic EU, Europe would have rebounded a long time ago. The same could be said of Obama’s socialist European economics and top down structured policies.
‘The whole eurozone is sick, not just France’
Published: 14 Aug 2014 11:25 GMT+02:00
- ‘Broken down’ French economy grinds to a halt (14 Aug 14)
- French deflation fears rise as prices fall (13 Aug 14)
- French economy gets double hit of bad news (08 Aug 14)
Critics of France’s Socialist government were quick to point the finger at president François Hollande and his ministers on Thursday after the latest figures on the economy made for some sorry reading.
The French economy showed zero growth for the second consecutive quarter of 2014 forcing the government to immediately revise its growth forecasts for the year and accept defeat in its attempt to meet deficit reduction targets set by Brussels.
Luc Chatel, secretary general of the opposition UMP party said the “political credibility” of Hollande and his PM Manuel Valls has “collapsed like a house of cards”.
The government needs to change not just its policies but “it’s software”, said Chatel.
“It’s an unprecedented crisis of state finances that has hit our country…We can’t just sit and wait with our fingers crossed,” he said.