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Francois Hollande threatens to block eurozone's new financial treaty

France under Hollande is going to be most entertaining! 

Francois Hollande has threatened to block the eurozone’s new financial treaty unless Germany agrees to renegotiate its stringent austerity measures. The new French president wants the treaty, seen as crucial to ensuring the survival of the single currency, to focus more on encouraging growth. Angela Merkel, the German chancellor, on Thursday told France that there was no alternative to spending cuts and painful deficit cutting measures, warning that “growth through debt” would take Europe back to square one. But Benoît Hamon, spokesman for Mr Hollande’s Socialist Party, said that the “politics of austerity” was failing to improve the continent’s financial crisis.

What amuses me most is the way that Leftists like Hollande present the issue as if it is a CHOICE between austerity and growth! We are being invited to believe that no one has even thought of “growth” until the idea entered Hollande’s head. Of course “growth” is a EU-phemism for the more dangerous word “Spending”, increasing debt.  Leftists still have not figured out that you cannot spend your way out of a spending induced recession but then again they also deny that reckless spending caused the problem in the first place! Instead, their narrative places the blame on “the banks” and as Hollande has plainly stated he sees financial institutions as public enemy number one!!!! This one may end with France becoming Greece!

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4 thoughts on “Liberté, égalité, fraternité – BUT not Austerity!

  1. “The new French president wants the treaty, seen as crucial to ensuring the survival of the single currency, to focus more on encouraging growth.”

    Meaning, he wants to spend money the French State doesn’t have. In this looking-glass world, “growth” means xactly that, government debt spending. Well we’ve had “growth” all over the Western world for decades, and look where we are! Australia has just become the first Western nation in decades to announce an annual government surplus.

    Yet again, in yet another country, the people have elected to the highest office those who are complete strangers to economics and the real world.

  2. Not to worry, the Muslims who voted this Progressive uber-Liberal into office will shovel money into the country.

    Why not? If they’re going to “own” Frogland they have to keep its economy stable so it doesn’t go down the drain.

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