Posted on 12/17/2005 8:41:55 PM PST by george76
France's public debt is spiralling out of control, according to a report commissioned by the French government...
The debt stands at €1,117 billion, representing 66 per cent of France's GDP ...
The staggering figure encompasses the debt accumulated by the state and local authorities, as well as social and health insurance bodies, over the past few decades.
However, it does not include the upcoming time bomb of civil servants' pensions.
Over the past ten years, the French debt has increased its claim against GDP by over 10 percentage points.
France saw the worst debt evolution among the then 15 EU member states, while Ireland proved the best at reducing public debt.
The Pébereau report states that, if nothing changes, French debt will be four times the country's GDP by 2050.
French prime minister Dominique de Villepin, who received Pébereau's report last Wednesday...
said: “France spends too much ...
(Excerpt) Read more at sbpost.ie ...
One thousand, one hundred seventeen billion? LOL.
The Death of Eurosocialism, about to happen before our eyes. Quick, get the marshmallows. This is going to be good.
So what is that per capita, in US dollars?
And to make things worse. France no longer has Saddam to sell reactors, and arms to in exchange for cheap oil. Poor widdle Chirac. His dreams all went up in smoke.
GBW needs to discuss this subject Sunday night.
Gee...that's too bad.
Answering my own question -- about $22,000 per person; still a good bit less than ours.
Socialism Socialism Socialism
"66 per cent of France's GDP..."
What is ours?
"Answering my own question -- about $22,000 per person; still a good bit less than ours."
I don't think that question mark was a dollar sign. It's more likely to be Euros, trading at something on the order of $1.18 or so, I think, but am not certain.
There are rumors that Standard and Poor's is about set to downgrade the debt of France.
You're looking at 1,342 billion US dollars. France has about 60-million people. That's about $22,300 bucks per person.
Considering the French pay about 65% of their income in taxes (at least)...geez, that's a lot of dough.
Maybe it's a little off. Last I heard, France had a GDP per capita of about $25,000 dollars.
Dona eis requiem... in muerte.
I can't even imagine how bad it must really be.
Roughly 60% of GDP (~7 trillion / 11.75 trillion).
No wonder they didn't want to rid Iraq of Saddam. That cost them a zillion dollars...
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