A paradoxical situation has developed in the European Union. The population is ageing, the economy is stagnating, and at the same time huge amounts of people's savings are lying unused in banks.
France badly needs economic reform. But we shouldn’t let negative news headlines blind us to the fact that the French economy has tremendous potential and that, provided a small number of important but feasible policy changes, it can do very well.
Public administrations are fulfilling their role perfectly in going into debt because this finances projects that could not be undertaken by the private sector.