Französisch -Schulden betragen 4 Billionen US -Dollar und stürmen Druck auf den neuen PM

not a welcome gift of any PM wants

Don’t worry fellow Europeans! We need to just work harder and longer to finance the welfare payments for the 20 year old Arabs and their 30 children!

Just make sure you get that extra over time in like a good wagey. Don’t expect to own your own home though in your life time!

France last had a budget surplus in 1974…..

Fellow non french europeans. Can we kick those frog eating debtors out of the EU? I mean, they will 100% force the more frugal countries to pay for it in a greek debt crisis times 10, we ought to get ahead while we can.

This is a systemic issue in France and thile other countires have done changes to reduce government spending such as raising the retirement age or similar these cuts are met with violent protests in France. 
So people dont want cuts to spending and the taxes are already quite high. 
So independently of who is in charge, as long as budget cuts are not possible to get elected on, the issue will get bigger and the debt will become larger and needs to be payed off as well. 

man everyone is in debt, someone somewhere is very happy

**Figures from the INSEE statistics agency show Lecornu, the former defense minister, now faces a debt that amounted to 115.6% of France’s gross domestic product in the second quarter.**

Le Monde with AFP

France’s public debt has ballooned to a record €3.4 trillion ($4 trillion), official data showed on Thursday, September 25, piling pressure on new Prime Minister Sébastien Lecornu as he confronts protests and political turmoil. Lecornu was appointed by President Emmanuel Macron earlier this month to succeed François Bayrou, who was ousted by Parliament in a fight over his austerity budget after just nine months on the job.

Figures from the INSEE statistics agency show Lecornu, the former defense minister, now faces a debt that amounted to 115.6% of France’s gross domestic product in the second quarter. The debt is up from €3.3 trillion in March, which was equivalent to 113.9% of GDP. Lecornu has yet to form a new government and must deliver a budget proposal to Parliament by mid-October.

Unions have announced fresh demonstrations for October 2 after hundreds of thousands of people protested across France last week over Macron’s austerity plans. Lecornu, Macron’s seventh head of government since 2017, has vowed a break from the past in a bid to defuse the political crisis.

He has tried to calm anger by promising to abolish life-long privileges for former prime ministers and Bayrou’s plan to scrap two public holidays. Bayrou had proposed a series of measures he said would save €44 billion to curb France’s high debt.

Well guess who will root for Eurobonds so that financially austere countries can once again bail out the losers..

The important thing is that there is always more $$$ for war

Rookie numbers.

Socialist mindset that infects most of the population.

We all require our share of the pie (that explains the endless protests) but the pie was getting smaller so we have taxed more and more for decades to the point where the state makes 60% of GDP and there isn’t much left to tax so the state gets into debt. And now we see the wall.

Taxing more the rich or the less rich won’t change anything. What remains to be taxed is almost inexistant today.

Guy has been the PM for nearly 8 minutes…..”piling pressure”

Let him find his office first lol jesus christ we’re ruthless

I think this is a pretty big deal for not only France but the EU, and could be the catalyst for collapse.

Anyone comparing French debt to US debt just doesn’t know what they’re talking about. France has run a deficit for almost 40 yrs and most that debt is unproductive debt such as pensions or social programs etc. The GDP growth has been extremely terrible since the 2008 crisis and to make matters worse they don’t even have control of their currency, and it is not a reserve currency. If France doesn’t change drastically very soon, they will need a bailout from the ECB or IMF which they would most certainly get since the EU would collapse if France falls. This would breed resentment from the more fiscally responsible countries and in turn we could see more countries leave the EU.

The solution is to first make the pension age 67 at least. Then they should drastically reduce welfare such as their super generous unemployment and abused social programs or at least take better care of it as so it’s not abused. Reduced corporate taxes is not the issue and taxing the rich more will not pull France out of this situation.

France is much much less productive than it used to be and doesn’t have the income needed to maintain the spending it currently has…this is the reality. Even if you taxed the ultra wealthy 100% you’d still be in this issue. The French are too prideful and stubborn to make a short term sacrifice for the better good of society when they don’t realize if they don’t act now they will be in a far worse situation in just a few years. Instead of rioting, why don’t you work a few more hours a week and take less money from the government? I know it’s a very hard ask from the French. Sad to see it but France will most likely have to be bailed out….

How much?!!

France would make billions if they legalized weed

Realistically France will need mixture of tax cuts (e.g. Zucman Tax) and changing some entitlements such as raising retirement age to get their fiscal house in order. They’re already operating well above the mandated EU limit for debt-to-GDP% and only getting a pass because they’re the bloc’s second largest economy. Brussels wouldn’t be as favorable if Portugal ran such staggering deficits