Tuesday, 25 September 2007

Bankrupt France

"I am at the head of a state that is in a position of bankruptcy. I am at the head of a state that for 15 years has been in chronic deficit. I am at the head of a state that has not once passed a balanced budget in 25 years. This can't go on."

That was the statement that French Prime Minister Francois Fillon told farmers on the French Mediterranean island of Corsica, who (surprise, surprise) were demanding more government money. Mr Fillon is going to announce the French budget for 2008 next week, which will have a fine deficit of €41.5 billion. Already, France has not had a balanced budget since 1982.

The black hole of Socialism is determined to keep France the most dysfunctional state in the West, and one of the most dysfunctional states in the world.


Ross said...

Socialism has never been good for the economy. Generally productivity plumets and country starts importing more and more. For example under british or capitilist rule tanzania exported a million tons of corn a year the country's main export. After 20 years of socialism Tanzania was importing almost the exact amount to feed its people!

Callum said...

^^The sad thing about those nations is that the British, and the imperial powers in general, built good (by their standards)infrastructure and had a (albeit racist) working rule of law. So the leaders afterwards had many chances to improve on the Europeans. Instead they chose Socialism and tribalism, and the people of the former colonies subsequently are poorer now than what they were back in the colonial days.