Agnes Verdier-Molinier is the executive director of the iFrap Foundation (a liberal think tank).
The ECB has just announced a new mechanism to buy back massively the sovereign debt of member states whose interest rates will be under attack by the markets. This is to avoid a new debt crisis in the euro zone. Officially, this is due to the fact that the interest rates between the Italian debt and the German debt have differed, but in fact, behind this decision is also the shadow of the financial situation of France, which is the second richest country in terms of territory. in debt, with a huge foreign trade deficit and depleted state finances. The fear of a debt crisis in the Eurozone would not be so strong if France had healthy public finances.
The possible division of the territory into two camps becomes possible, because France has gradually moved to the camp of southern European countries due to the delay of reforms, drug…
Source: Le Figaro
