Wednesday, January 30, 2013

Is France bankrupt?

gold and silver hallmarks bankrupt
France's political figures are defending the health of its economy following Labour Minister Michel Sapin described France as "totally bankrupt".

Finance Minister Pierre Moscovici explained later that Mr Sapin's comments weren't "appropriate".

"France can be a truly solvent region, France is a truly credible country, " Mr Moscovici added in.

President Francois Hollande has promised to relieve its deficit to under 3% of output this year from the current 4. 5%.

Was it the gaffe or would the Socialist government be softening up the French public for a difficult road ahead? 

Having devoted almost all of his first year to policies that appealed to their left-wing base, Mr Hollande is facing the more complicated decisions - public spending cuts and labour change through reforms.

And his time minister, Michel Sapin, has spelt out why it's required.

In the radio interview on Sunday, Mr Sapin replied to the question on the country by saying:

"But it's a state totally inside bankruptcy".

He later instructed the AFP news agency which he was speaking from the state finances during the past and it was a joke.
Mr Moscovici explained his words ended up "not entirely proper because France can be a country it doesn't need to de-activate its public services on a massive scale".

buy some electronic gold scales

France's public financial debt total topped 90% from the value of everything produced throughout the market last year, well above Europe target of 60%.

Unlike almost all of its European neighbours, the president generally favoured tax increases over cuts in pay to seal the gap between government revenue and government expenditure, including his controversial increasing of the highest rate of 75% tax on incomes in excess of 1m euros ($1. 3m; £800, 000).

The planned increase included the departure connected with actor Gerard Depardieu to Russia and Prime Minister David Cameron to state that if the tax jump occurred, he would "roll out the red carpet and welcome far more French businesses to Britain".

However Prime minister Cameron has recently suggested that Britain may leave the EU

The Constitutional Court of France recently stopped this increase from happening.

In November, rating agency Moody's cut down France's debt by Aaa to Aa1, kept its unfavourable outlook, meaning the rating may be cut again, because of France's "persistent structural monetary challenges".

Whats the difference between the European Union and the Euro zone

dating silver
dating silver hallmarks

the big world identify gold and silver hallmarks

Identify marks on foreign silver part 1




How to Understand International hallmarks





Subscribe to this site by email

Is France bankrupt?