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In their effort to shift austerity from tax hikes, France will cut spending for the first time in over 55 years, by $2 billion.
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France was able to secure high wages for its workers and build an extensive social welfare provision post World War II through the success of French state and private enterprise industry. The imigration of large numbers of Muslims in to France and the erosion of traditional French city community and peasant community values has damaged France's ability to compete economically.
Big-one5,they should had CUT spending years ago.But campaing promises,favors,inve stments. mm..yea
Austerity simply does not work when facing an economic troubles. It only makes things worse.
In our ridiculous system, printing money is the only option that works. Euro countries can't do that
When West finally admit that they are a bubble ecoomy about to burst?
Why can't they simply adjust GDP computation methodology to show growth, like US does.
@"US did not cut spending"
o h, really? then what the sequester is?
The US did not cut spending, in fact US had broad stimulus that saved economy from absolute death
There is no fear in France? They are THE most fearful country in EU & top consumer of anxiety meds
gov't is expert in wasting money, so its overspending just adds debt and reduces business confidence
they are starting to see the light - also in US economy started to recover once gov't cut spending
Surely the headline should be Hello to austerity? As spending cuts just started
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