Debt: the question of repayment divides economists and politicians

Politicians and economists differ on the solution to resolve the country’s debt burden, which is close to 120% of GDP.

If there is one area where Emmanuel Macron will fail when the time for the balance sheet comes, it is that of the country’s over-indebtedness. In other words, a boulevard for the opposition which, fifteen months before the presidential election, has already indeed invested the question of the cancellation of part of the debt, causing divergences both on the left and on the right. .

The figures are, it is true, dizzying. By force of circumstance – a health crisis – France has gone into debt like never before to try to save the French economy since March. In the third quarter of 2020, public debt thus reached 116.4% of GDP, or 2,674.3 billion euros, INSEE said on Tuesday. And, according to government forecasts, it should reach 119.8% by the end of the year and exceed 120% in 2021…

We are not going to have austerity plans ad vitam aeternam to repay a debt in which we have no responsibility, neither moral, nor political, nor economic.

Arnaud Montebourg, former Minister of the Economy. François BOUCHON/Le Figaro

France, like other countries facing the pandemic, has thus shifted into a new paradigm where money no longer seems to have any value. While yesterday we warned about the danger…

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