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Europe
France 'totally bankrupt', says labour minister Michel Sapin
2013-01-29
Ink in the ink pen, checks in the checkbook, you know the drill
France's labour minister sent the country into a state of shock on Monday after he described the nation as "totally bankrupt".

The comments came as President Hollande attempts to improve the image of the French economy.

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.

Pierre Moscovici, the finance minister, said the comments by Mr Sapin were "inappropriate". He added: "France is a really solvent country. France is a really credible country, France is a country that is starting to recover."
Posted by:lotp

#4  gaffe == when a politician accidentally tells the truth
Posted by: gromky   2013-01-29 07:48  

#3  That seems to be all of them.
Posted by: Bright Pebbles   2013-01-29 05:16  

#2  So are most nations these days. Especially the socialist ones.
Posted by: DarthVader   2013-01-29 00:49  

#1  Credible, or Creditable/Creditorable???
Posted by: JosephMendiola   2013-01-29 00:38  

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