Why France is wrong to rejoice over the setbacks in the United Kingdom

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EDITORIAL. When the economic policies displease them, the financial markets sanction them. On this side of the channel, the lesson should be considered…




By Pierre-Antoine Delhommais

In order to finance its deficit, which amounts to 155 billion euros, the French state must borrow 270 billion euros next year.  What causes confusion and confusion among foreign investors.
In order to finance its deficit, which amounts to 155 billion euros, the French state must borrow 270 billion euros next year. DWhat causes confusion and confusion among foreign investors.
© THIBAUT DURAND / Hans Lucas / Hans Lucas via AFP

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vsIt is with undisguised glee that the setbacks of volatile British Prime Minister Liz Truss, forced to leave 10 Downing Street after just 44 days, have been followed in France. Even the newspapers accustomed to condemning the “dictatorship of the financial markets” did not hesitate in excited leaders to hail the coup d’état carried out by “traders” and speculators. Which by crashing the British pound and skyrocketing interest rates forced a pitiful resignation from whoever claimed to be, it is true, the new Margaret Thatcher, symbol in our country of ultra-liberal evil in all its horror.

However, it would be wrong to rejoice too quickly in France over the misfortunes of Liz Truss, who came to recall fond memories of the leaders…


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