The France Thread: Oui Oui, Bonbons and all that bad stuff 🇫🇷 | 25-09-08 : Another PM down

88m3

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Liu Kang

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88m3

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ADevilYouKhow

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The gravy train wasn't gonna last forever. :manny:

The chickens eventually have to come home to roost. :umad:
 
mbewane

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88m3 said:

‘Bonjour’ Sets Off a Linguistic Dispute on a Belgian Train​

The rules can get complicated in a country with French, Dutch and German as official languages.





disturbing

@mbewane @Liu Kang
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Can't read the article so cant say if it's accurate, but the story didn't even make much noise over here, it's just another ridiculous belgian story. IIRC the train guy just got reminded the rules by the train company. It was a passenger who filed a complaint, probably one of those who vote for the separatist groups.
 
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France is about to cause global recession due to massive deficit

France certainly needs to do something. If some of us are starting to feel Britain is overtaxed, our neighbour has taken it to a whole new level.

State spending has hit 58pc of GPP, while taxes drain 47pc of the economy. And yet, despite that, the deficit is forecast to hit 5.7pc of GDP this year and will probably punch through 6pc, while its debt-to-GDP ratio is over 113pc, and higher if you take its share of the EU’s debts into account.

It is hardly surprising that investors are starting to feel nervous about lending the country even more money. Yields have already spiked above Greece and Portugal, two countries at the epicentre of the last eurozone crisis, and that is hardly reassuring, while the finance minister, Eric Lombard, has started warning about an IMF bailout. It is not, to put it politely, an encouraging outlook.
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Liu Kang

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wire28 said:


What in the hell is going on over there?? @Liu Kang
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The issue stems from Macron's reelection in 2022.

Usually a month after the presidential elections, there are general elections to elect representatives. In France, the absolute majority of the National Assembly (our lower chamber) is off the same party as the president and the latter can then do his thing.

In 2022, this didn't happen, his party had a relative majority so he had to ally himself with another one and he chose one on the right (Republicans). This went on up until last year when the Repubs weren't loyal enough to guarantee the absolute majority and then he dissolved the Assembly which made a bigger mess of the then kinda minor mess.

After last year's snap elections, the Assembly still had 0 party with absolute majority but most importantly, there was no viable alliance to reach that majority so we could never really pass ideological bills like the budget which is a major hurdle currently.

There were big mistakes made by the previous Finance minister as he chose projections that were far too optimistic in 2022 and 2023 (overestimated our revenues and underestimated our losses for the next year's budget). Also, we didn't rebound as well as we could have after Covid.

When reality hit, our primary deficit had actually boomed to 6% of the GDP while the European target is 3%. Since then, we cannot find any agreement in the Assembly on how to solve this issue.

The PM of the government that just collapsed tried a gamble with that confidence vote for some reason and badly lost obviously as he never had the votes to back him. So now we need a new PM.

Macron has his fair share of blame here as he chooses PMs that refuse to raise taxes on the wealthy while demanding more from the working class. It's the core of his political stance as he is supply-oriented in order to get more foreign investment so they can... trickle down in our economy.

Oh and there is a general strike in two days :picard:
 
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