Protesters, mainly workers at the Kem One group, block the entrance to a plant in Marseille on May 14, demonstrating against the potential loss of 1,300 jobs.(BORIS HORVAT/AFP/Getty Images)
Protesters, mainly workers at the Kem One group, block the entrance to a plant in Marseille on May 14, demonstrating against the potential loss of 1,300 jobs.
(BORIS HORVAT/AFP/Getty Images)

Is France Europe’s Next Crisis?

May 16, 2013  •  From theTrumpet.com
France’s economic collapse has destroyed the Franco-German alliance. That means the end of the EU as we know it.
 

“The trouble with socialism,” said Margaret Thatcher, “is that eventually you run out of other people’s money.” Although a bit of an oversimplification—it ignores the major role of the euro—it sums up France’s economy.

France’s citizens face the highest tax burden in the eurozone. Public spending makes up 57 percent of the overall economy—also the highest in the eurozone—yet the country can’t get its debt under control, and its economy is shrinking.

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