The Economist

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The time-bomb at the heart of Europe
The Economist

Public spending is 57% of the nation’s output • Failure to balance a single budget since 1981 • Debt-to-GDP is 90% • Lost its AAA grade from Standard & Poor’s • No new company has entered the CAC-40 stock market index since 1987 • Nobody gets fired, unions protest over any reforms • Growth has stalled • Unemployment is 10% • Youth unemployment is 25% • Fewer small and medium-sized enterprises than Germany, Italy or Britain • The rich are routinely abused and people are instinctively hostile to capitalism • Its labour costs are far above Germany • Hollande’s approval rating has plunged even faster than Mr Sarkozy’s did in 2007, to below 50% • He refuses to really acknowledge France’s economic challenges

C’est presque une description du Québec… Il faut dire que le PQ a toujours vu le Québec comme une colonie française…