Except for this blunder where Perry got a pass.
Scott Pelley: Governor Huntsman— as we sit here, there is a crisis in Europe over debt, particularly in Italy and in Greece. And there is the threat of contagion onto Wall Street and U.S. banks. How do you prevent the Euro crisis from becoming a problem in the United States?
Scott Pelley: —is time. Thank you very much. We just have time for a quick follow-up on— on that same question. Let me come to Governor Perry. How do you prevent the European crisis from become a problem on Wall Street?
Rick Perry: Well, the French and the Germans have the economic wherewithal to deal with this. They have the economy.
Seriously? As of Feb 2011 France had an unemployment level of 9.6%. How is their economy going to prevent a problem on Wall Street?
Well, he never got to finish his thought did he?
They ended the debate.
Germany certainly is Europe’s economic power house.
France is in the midst of transition from a well-to-do modern economy that has featured extensive government ownership and intervention to one that relies more on market mechanisms. The government has partially or fully privatized many large companies, banks, and insurers, and has ceded stakes in such leading firms as Air France, France Telecom, Renault, and Thales. It maintains a strong presence in some sectors, particularly power, public transport, and defense industries
https://www.cia.gov/library/publications/the-world-factbook/geos/fr.html
All I got from what Perry was able to say is that, this is Europes problem and he thinks Europe can handle it.
I could extrapolate that he means that we should not bail them out with American money.