The French economy is solidly mired in recession. It appears that President Francois Hollande’s government infused “growth” policies aren’t working too well.
Perhaps chasing the biggest taxpayers out of the country was unwise. Nearly as unwise, hiring a man with a Swiss bank account which was used to avoid taxes to go after tax evaders. I suppose it takes one to know one, but still, it’s just not smart.
Things in France are grim.
For the record, in May of last year, Hunter Lewis, co-creator of Against Crony Capitalism showed he had Hollande pegged when he said –
“It is all very well to favor “growth,” but to do so one must first have some idea what creates economic growth. And it is certainly not more government deficit spending and government jobs, together with stifling regulation, interference in every conceivable way with the price system, all lubricated with endless money printing. This is a formula for unemployment, not for growth.”
France is looking more and more like southern Europe with each passing day.