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Gold9472
09-22-2007, 09:38 AM
Premier Says France Bankrupt

http://www.forbes.com/feeds/ap/2007/09/21/ap4144493.html

Associated Press 09.21.07, 2:50 PM ET

PARIS - France is bankrupt because of chronic budget deficits, the country's prime minister said Friday, pledging to balance the budget before the end of his term.

"The truth is that I am the head of a state that is in a state of bankruptcy due to its financing plan," Prime Minister Francois Fillon said in the Corsican city of Calvi. Fillon answers to President Nicolas Sarkozy, but heads the French government.

"I am the head of a state that has been in chronic deficit for 15 years," the conservative Fillon remarked, adding, "I am the head of a state that hasn't voted a balanced budget in 25 years."

"This cannot last," he concluded, saying he is obliged to bring the budget into balance before 2012, when France next holds presidential elections.

Sarkozy said he would try to bring the budget deficit down to 2.4 percent this year and erase France's annual deficit by 2010 - a goal shared by the 13 nations that use the euro - but says he cannot guarantee it until 2012.

Sarkozy says he needs more time to implement sweeping reforms to France's labor system. Other European leaders have expressed frustration at the delay and called for more French austerity.

AuGmENTor
09-22-2007, 02:11 PM
Good, I don't like France.

PhilosophyGenius
09-22-2007, 07:53 PM
I heart France.

Didn't realize there shit was this bad.

DSM
09-22-2007, 08:38 PM
Good, I don't like France.

Too much anti-France propaganda in USA..

thumper
09-22-2007, 09:03 PM
is it due to their social welfare system?

AuGmENTor
09-22-2007, 09:11 PM
is it due to their social welfare system?It is due to their snottier-than-thou attitude. Bunch of cheese eating surrender monkies.

PhilosophyGenius
09-23-2007, 02:15 AM
Supposedly they're switching away from the European model of economics and movin towards American...something like that (to fix the economy)

They give away tons of benifits as well to people.

DSM
09-23-2007, 04:33 AM
Still, that alone doesn't really mean much since many countries in Europe have plenty of welfare and great economies like sweden.
Heck, USA has 9 trillions of debt despite a lesser welfare system...

http://img169.imageshack.us/img169/561/cartoon20030220frenchyvqm6.gif (http://imageshack.us/)

thumper
09-23-2007, 01:19 PM
Supposedly they're switching away from the European model of economics and movin towards American...something like that (to fix the economy)

They give away tons of benifits as well to people.i heard a stat once like 40 percent of the workforce in France is civil. :69:

AuGmENTor
09-23-2007, 01:26 PM
What's more, they are not allowed to work overtime there. And there are mandatory vacations. The workforce doesn't like the no overtime thing, as they would like to be able to make some extra cash I'm sure....

beltman713
09-23-2007, 08:21 PM
They don't have enough jobs for everyone in the country, so they cut the number of hours someone can work so two people can have the same job, or something like that.

PhilosophyGenius
09-25-2007, 12:44 AM
Plus the whole immigration deal.