Posted on 06/29/2017 5:24:05 PM PDT by Olog-hai
France is set to miss its 2017 deficit target by a wide margin, the country’s public accounts watchdog said on Thursday, predicting the gap between spending and revenue would exceed a eurozone limit of 3 percent of GDP.
In the absence of “strong adjustment measures”, the deficit will reach 3.2 percent of GDP, the Court of Auditors said, in a warning to new President Emmanuel Macron, who will produce his first budget in the autumn.
The previous Socialist government said it expected the deficit to fall from 3.4 percent last year to 2.8 percent this year, which would have brought France in line with EU rules for the first time in a decade.
The auditors said France was currently €8 billion ($9 billion) off target and accused the Socialists of “insincerities” in their forecasts, saying they routinely underestimated spending. …
(Excerpt) Read more at thelocal.fr ...
Just think how much better it will get when they have to chip in (or at least put on the books) their graft for their very own Paris Accords.
So amusing seeing France slooooowly being hoisted on its own petard.
Macron is merely enjoying the attention.
I doubt even the Rothchild's (Macron's benefactors) remember how real economies work.
Trump knows because he knows the trades.
Economies work at the bottom levels...at the front lines.
By the time money has made it up to the executive level, it has forgotten how it was earned.
Spending money that doesn’t exist yet. Every year. Every country. As far as the eye can see. The can gets bigger. The road gets shorter.
They remember just fine. Globalist bankers will own France when the debt becomes insurmountable. Marcon is most probably a useful idiot.
Logic says France's problems will increase. They benefit mightily from tourist revenue. Who's going to take a vacation at a place that isn't much safer than Syria?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.