## French government debt exceeds 120% of GDP
Prof #RichardMurphy in taxresearch.org.uk:
> “France is consequently subject to the European Union's Excessive Deficit Procedure. The EU expects France to reduce its deficit and constrain expenditure growth. That, however, creates an obvious problem. The neoliberal reforms have not delivered sufficient growth to resolve France's fiscal problems, but because they have not done so, France is now being told that it needs more fiscal restraint. Let me be blunt: that is neoliberalism prescribing more neoliberalism to cure the failure of neoliberalism.”
I picked on this paragrraph to highlight the utter sutpidity of #EconomicRationalist #NeoLiberals> When poisoned, just take more poison and hope that cures you. So **yes**, a change jn economic systems seems a better alternative to the *snake oil* remedies.
Read more:
https://www.taxresearch.org.uk/Blog/2026/10/07/is-france-jettisoning-neoliberalism/
#France #Economics #PresidentialElections #FrenchPol
#MMT #TaxTheRich
