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News that the French economy recorded positive growth in the first quarter of 2015 fails to reveal the full picture and could actually damage the longer-term perspective. The government, thanks to its partner Germany, has continued to delay imposing the full suite of necessary reforms. One quarter’s figures could actually delay further reforms.
Dr. Emmanuel Martin
Governments have been ignoring the hard economic facts of life to deliver political dreams which meet the expectations of voters. They have been living in a world of make-believe by failing to deliver the reforms which current economic positions demand but meddling with more and more government intervention.
Professor Enrico Colombatto
Economists love to think about ways to fix countries and Italy is no exception. The prescription has been the same, with minor variations, whatever the country - a balanced public budget, privatistion of key sectors and deregulation. Italy is in dire need of urgent action and gradual change will be another missed opportunity.
Italy’s economic growth outperformed most of Europe for almost 20 years. For the last 20 GDP growth has stagnated well below the average for Europe as it followed a reckless policy of financing debt. But low investment and a poor quality workforce are at the heart of the country’s problems.
ITALY’S economic problems at th...
Europe's future is being debated as its member states face a series of financial crises. In the third part of our series on the European Union we look at the French view of Europe, how it regards its role at the centre of any grouping at a time when the French people see themselves as French rather than Europeans.
Rating agency Moody's removed France from its top-ranking triple A rating. The downgrade came only days after President Francois Hollande had made a genuine policy 'U-turn' to restore the country's competitiveness. But the downgrades could accelerate if France cannot reform itself seriously and its financing abilities could become more problematic.