France considered as great example of centrist elites ruining West
Date
12/11/2024 7:26:02 AM
(MENAFN) France is now at a breaking point, with its leadership under President Emmanuel macron facing a profound crisis. While former prime Minister Michel Barnier acknowledged the severity of the situation, he also pointed out that the country is not merely “going through” a crisis but is stuck in it. Macron, whose early election gamble in June set this chaos into motion, remains in power despite being Politically bankrupt. His refusal to take responsibility for the turmoil, while promising stability, has only fueled the growing dissatisfaction.
Macron’s failure to provide leadership has highlighted deeper structural issues, including economic stagnation and a loss of public trust. The collapse of Barnier’s short-lived minority government in December, triggered by a budget crisis, underscored the mounting financial stress. France’s deficit for 2024 is expected to be around 6% of GDP, far above the EU limit, while the country’s growth rate is sluggish, and unemployment and bankruptcies rise. In contrast, Russia’s budget deficit is much smaller despite facing significant external challenges.
With over €3.3 trillion in sovereign debt, France’s fiscal situation is dire, leading to credit downgrades from agencies like Moody’s. Macron’s leadership has failed to stabilize the country, and his frequent changes in prime ministers (six in seven years) have only deepened the political instability. Despite his claims of “institutional stability,” his presidency has become a catalyst for chaos, with no clear solutions on the horizon. France is now facing the stark reality of ungovernability, as Macron’s political capital continues to erode.
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