Saturday, January 12, 2013

France is the new Greece

"The virtual implosion of French industry is overlooked by analysts and pundits who claim that the eurozone had dodged disaster and entered a new, durable period of stability. In fact, it's France -- not Greece or Spain -- that now poses the greatest threat to the euro's survival. France epitomizes the real problem with the single currency: The inability of nations with high and rising production costs to adjust their currencies so that their products remain competitive in world markets."
--http://finance.fortune.cnn.com/2013/01/09/france-economy-crisis/

"Although still quite outside the focus of the media and investors as its risk premium relative to German bonds remains relatively low, for me, leaving aside the PIIGS, which are marked by blood and fire, France, is the real zombie of Europe, an economy that has been losing competitiveness rather quickly."
--http://globaleconomicanalysis.blogspot.com/2013/01/france-hidden-zombie-in-europe.html

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