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Thursday, February 14, 2013

French economy: "Bienvenue au Club Med!"

France’s National Statistics Institute (INSEE) and Eurostat have both confirmed that the French economy shrunk by 0.3% in the last quarter of 2012 - and according to INSEE the economy registered zero growth throughout 2012. President Fran├žois Hollande is expected to soon revise down his painfully optimistic growth forecast of 0.8% for 2013. In the meantime, if anyone had any doubt as to what these figures mean for France, a comment piece on the front page of today's Le Figaro does the trick:

 

Hollande can always seek consolation in the fact that the figures for the rest of the Eurozone were pretty grim as well....

3 comments:

Rik said...

The wolfs look to be out for Hollande and France. We have to see if he is tomorrow's or the day after's lunch.
Metaphorically speaking of course, horse is one thing but Hollande would never meet the high and strictly enforced EU health and safety standards of course. Bit of tough meat as well probably.

christina speight said...

WHEN - oh WHEN will they ALL in the eurozone wake up to the fact that they are busy crucifying themselves as well as everyone they come in contact with. The Euro should have been scrapped log ago and until it is they should adopt a Eurozone anthem - "There are bad times around the corner".

Gosporttory said...

It is very pleasing for me to hear that Hollande is embarking on the same disasterous borrowing and squandering spree that our last Socioalist Government embarked on. It couldn't happen to a better people,especially given that they are supported by our own foolish Governments by way of subsidising French peasant farmers to produce anything, regardless of whether it is necessary or indeed required by the people!!!

The sooner the entire EU Gravy Train collapses the better, hopefully sooner than the political elite expect by way of the eurozone imploding.....it is only a matter of time, for implode it must! There is a limit to how much denial of democracy can be sustained given the riots throughout the Gravy Train.

Roll on the implosion.