Report
Patrick Artus

France: What austerity?

It is repeatedly claimed that economically liberal governments and the European rules have led to the implementation in France of austerity policies that are the cause of unemployment in the country. But what sign is there of austerity policies in France? There has been a constant fiscal deficit and the public debt ratio has reached 100%; Interest rates are very low, and household and corporate debt have risen considerably since the crisis; Social welfare spending has risen considerably; The minimum wage is higher relative to the median wage than in any other OECD country; Income distribution has skewed in favour of wage earners. It is laughable to attribute France’s unemployment to austerity .
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Natixis
Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

 

Analysts
Patrick Artus

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