Thread

1. petcat · 1790821195 · focus · HN ↗

   You want to see what's really bad, a train wreck in slow motion, just look at what France is doing.

   They've been subject to EU Excessive Deficit Procedures for multiple years, must bring deficit-to-GDP ratio from ~5.8% down to 3% within 3 years despite virtually no GDP growth and complete political and societal paralysis about reducing any public benefit or welfare whatsoever.

   ECB will most likely get involved after 2029 to start austerity measures. You can predict how that will go over with the French public especially if Le Pen takes the presidency, which looks likely.

   Very tough times ahead and the EU is facing a critical point about its future.

   1. bigbaguette · 1790823770 · focus · HN ↗

      While the far right in France has been gaining traction with full throttle populism on fertile grounds, I wouldn't overestimate their chances to make it to the presidency and discount the fierce opposition that will be expressed the day people cast their vote.

      It is still a weak (but loud) political movement which lacks backbone and network.

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