France - A Worrying Basket Case

Down the centuries Britain has learnt to live with its closest neighbour across the Channel, whom since its borders reach to the coast of the Mediterrenean Sea, nevertheless remains an ever complex enigma to the English.

This morning Morgan Stanley has tweeted via linkback some interesting research on the French economy, which I trust readers to this blog will be able to access through this link!

If not I have pasted a copy of the original tweet below:

Holger Zschaepitz ‏@Schuldensuehner

Why #France's credibility is on the way down and why everybody should short the country. http://t.co/2lmeC05C

A study of this depth deserves fuller consideration before offering any comment, so I will refrain from such temptation but include this significant part of one bullet point:

"We believe European policymakers are likely to ask France to lay out a comprehensive and achievable strategy of fiscal consolidation in the medium term. In particular, we believe the government needs to provide detailed measures of reduction or further control of spending..."