Wednesday, October 16, 2013

Ambrose Evans-Pritchard on France (and the FN)

"Their (the FN's) working assumption is that the Eurozone's North-South imbalances have already gone beyond the point of no return. Attempts to reverse this by deflation and wage cuts must entail mass unemployment and loss of the industrial core".

This article by Ambrose Evans-Pritchard is enlightening. He doesn't accept face value what MarineLe Pen is saying but he doesn't discredit her arguments either. If anything, he says that "the worst fears of the EU elites are starting to come true". I have made similar arguments in the below posts.

Giving up hope
Justifying the giving up of hope
Why hope is no longer justified

1 comment:

  1. A very interesting text, thx for the link!

    Indeed, "the worst fears of the EU elites are starting to come true", and he correctly concludes "It is entirely their own fault."

    However, even with their own currency, the economic wealth of France can not be reestablished without dramatic reorganization of the socialistic state. My impression is that the successful party has not yet found the required economic competence.