Monday, December 19, 2005

Gateway Pundit: Even with Hocking the Louvre, France Looks to Go Bust: "This week, France woke up to a report into its astronomical public debt, which is now higher than E2000 billion ($3210billion), or 200 per cent of GDP.

'Our state is bankrupt,' wrote Pascal Gobry, of the French Institute of Actuaries, in Le Monde.

'Even if it would sell to the Japanese the Palace of Versailles at a high price, the Eiffel Tower, the Louvre Museum, all of our patrimony, the French state could not honour her commitments for retirees or salaries. The king is completely nude.'"

As France continues to print money/ deficit spend, rather than reform, their debt will break the Euro.
Neither Slovakia nor any other state should enter the Euro until France and Germany fulfill their Stability Pact commitments.

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