In this new video, Eitan Urkowitz quizzes me together with Jacob Kirkegaard about the outcome of the first round of the French presidential election, which Emmanuel Macron won with 24 percent of the vote, and about the implications for France and Europe.
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Excellent, all true, but viewed from Washingtonians. One little thing is missing, France has an unemployment rate double that of US, UK, and Germany. What will do M. Macron regarding this specific French issue? There is no tax reduction on enterprises (the key) in its program and no serious, nor credible public-expenditure reduction (France has the highest expenditure ratio in the world).
So what you say is fully right (Macron is pro globalisation, pro Europe, pro democracy, pro market, etc. but this is not enough. You forget to mention that E. Macron does not address the French binding constraint: Too much public expenditure, therefore low growth and unemployment.
Posted by: Jean-Pierre Dumas | April 29, 2017 at 05:04 AM
What will do M. Macron regarding this specific French issue?
Posted by: cheap christian louboutin | June 06, 2017 at 02:33 AM