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France is another PIG. In fact, France is the "F in PIG". It's just a matter of time until the Euro does to France what it has done for Italy.
Michel Sapin made the gaffe in a radio interview, which left French President Francois Hollande battling to undo the potential reputational damage.

“There is a state but it is a totally bankrupt state,” Mr Sapin said. “That is why we had to put a deficit reduction plan in place, and nothing should make us turn away from that objective.”

The comments came as President Hollande attempts to improve the image of the French economy after pledging to reduce the country’s deficit by cutting spending by €60bn (£51.5bn) over the next five years and increasing taxes by €20bn.

Data from Banque de France showed earlier this month that a flight of capital has already left the country amid concerns that France’s Socialist leader intends to soak the rich and businesses. The actor Gérard Depardieu has renounced his French citizenship and decamped to Russia in protest, while David Cameron said Britain will “roll out the red carpet” to attract wealthy individuals.

Pierre Moscovici, the finance minister, said the comments by Mr Sapin were “inappropriate”. France has declared war on business.
This country has been told for decades it could ignore globalisation, and that the Brits and Americans are more-or-less contemptible.Their businesses close and capital leaves as fast as it can.They described Sarkozy as Mr Bling because he had one expensive inauguration dinner.They have been lied to about reality and there are vast numbers of unreconstructed communists and super-socialists, with a bureaucracy that defies belief. For Germany, France now is THE problem - not Britain, which is similar to Germany in many ways.Hollande is loathed by many in France and now feared by most for the insanity and naivety of what he is doing.There is no budget correction here, just rapid decline, illusion and mounting irrelevance.This place is becoming very frightening...

Well ....There is a common theme here...Someone has nicked all the money, from virtually every country in the world. And we are all sat here twiddling our thumbs worrying about all the debt.   ...  Now think about debt.... How can nearly all the countries in the world, legitimately be in debt?..Who is the debt owed to?...  Whoever these people are, must live in some of these countries, and I am almost certain, that they have - or they think they have - complete power and control over what is going on in these countries...

They are not as some people try and make out - the likes of pensions and insurance companies - otherwise pensioners wouldn't themselves be in the process of being totally screwed. All these problems should be resolvable. Money, no matter what it is based on, does not simply evaporate into thin air and completely disappear.

So the people of all the countries in the world must take this one step at a time, and identify whose hands are actually on the levers of power.  What are the fat controllers planning to do with all their power, if we do not take back control from them?..They are going to try and kill us all. That is what always happens with such enormous power. Ask any old German or Russian who actually survived and witnessed it...We helped come to their rescue. No one's going to come to ours except ourselves.