So does this mean that the French ecomony is doing well? Or that relative to Spain and Greece etc it is doing relatively well? The last time I looked at the fundamentals of percentage of debt to GDP and the policies of the new French government it didn't look so good to me...
FOR the first time ever France has been able to borrow at a negative rate – that is it will pay back less than it gets. The country has joined a select group of countries, including Germany, Denmark and the Netherlands which have been able to do so this year. The feat comes as investors are seeking safe places to put their money, worried about the instability of the southern European countries like Spain and Italy.
Agence France Trésor, a body which manages the government’s debt, has just put out three-month Treasury Bonds at rates of -0.005% and six-month ones at -0.006%. France had only intended to borrow €7.7billion but was offered nearly three times as much, €20.4billion, and was able to negotiate the lower rate.
France is screwed. The euro crisis is not limited to PIIGS. There's a difference between a healthy economy, and being relatively healthy to severe cases like present PIIGS. Eventually, even Germany will have its hands full. Any system based on savings-less credit is destined to fail.
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