The French Death Rattle

From Project Syndicate RSS-Feed Fri Dec 14 2012, 06:00:24

Moody's announcement in November that it had downgraded France's sovereign-credit rating implies that the government's response to calls for a "competitiveness shock" was inadequate. In fact, Moody's negative verdict barely scratches the surface of France's predicament, which is rooted in the prejudices of its governing elite.

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