IMF warns over-taxed France risks slipping behind Italy and Spain

The International Monetary Fund has told France to take urgent measures to head off national economic decline, warning that the country risks being left behind as southern Europe embraces reform.

SOURCE and the rest of the article

If the proposed measures drive people to drink, it certainly won't be beer - " the French brewers' trade body reckons will push up the price of a beer by up to 20%, is a blow to French beermakers as well as importers, who supply a third of the French market"

Try this for size François:

This is more than consent, or concord; it is a real unity of them all in one and the same person, made by covenant of every man with every man, in such manner as if every man should say to every man: I authorise and give up my right of governing myself to this man, or to this assembly of men, on this condition; that thou give up, thy right to him, and authorise all his actions in like manner. This done, the multitude so united in one person is called a COMMONWEALTH; in Latin, CIVITAS. This is the generation of that great LEVIATHAN, or rather, to speak more reverently, of that mortal god to which we owe, under the immortal God, our peace and defence. For by this authority, given him by every particular man in the Commonwealth, he hath the use of so much power and strength conferred on him that, by terror thereof, he is enabled to form the wills of them all, to peace at home, and mutual aid against their enemies abroad. And in him consisteth the essence of the Commonwealth. ...
And he that carryeth this person is called sovereign, and said to have sovereign power; and every one besides, his subject. ...
Hitherto I have set forth the nature of man, whose pride and other passions have compelled him to submit himself to government; together with the great power of his governor, whom I compared to LEVIATHAN, taking that comparison out of the two last verses of the one-and-fortieth of Job; where God, having set forth the great power of Leviathan, calleth him king of the proud.
Thomas Hobbes, Leviathan (1650)

Here is a snippet to make the French executives squirm and head for dave's red carpet:

You might think French politicians might notce!

Yes, a big loud bell, but France has a horrible habit of not looking at anybody else and learning.

My favorite part of the whole article is this: "Free market critics say France’s root problem is a Leviathan state - now 56pc of GDP, higher than Denmark - combined with cossetted welfare and early retirement." [look up Leviathan state - I had to]. DOES THAT RING A BELL WITH ANYONE HERE?

Phew, in before Finn. This is not the first warning and will not be the last. There is every indication that fiscal policy is driving France against itself by beginning to create outflows of capital which, ultimately, will reduce the amount of revenue available. The punitive taxes affecting 'ordinary' people have begun to go far over the limit that people will tolerate. It is fine to say that the many functionaries with their jobs for life are paid for by all the taxes but the problem that is bring with it is that eventually rationalisation will occur with redundancies, voluntary severences and early retirements on to pensions. What will pay for that come the day? With reducing amounts of capital generating 'business' in France no matter how much tax goes up in percentages, revenues will fall anyway, so what will pay for the enormous public service that earns almost nothing for the state sector. Fiscally Hollande has chosen a cul de sac policy with his economic methods. However, it matters not a jot whether that feeds the electorate into extreme left or right hands at the next election. By then the country will be on its knees, those parties have no actual better policies at this point in time and people with open eyes will not expect change. There will be disaffection and malaise, decline will see Italy, Spain and Portugal on the way back up passing France sinking fast.

Ahh! But will La France listen :wink: