France “totally bankrupt” says labour minister Michel Sapin


Michel Sapin made the gaffe in a radio interview, which left French President Francois Hollande battling to undo the potential reputational damage.

“There is a state but it is a totally bankrupt state,” Mr Sapin said. “That is why we had to put a deficit reduction plan in place, and nothing should make us turn away from that objective.”

The comments came as President Hollande attempts to improve the image of the French economy after pledging to reduce the country’s deficit by cutting spending by €60bn (£51.5bn) over the next five years and increasing taxes by €20bn.

Data from Banque de France showed earlier this month that a flight of capital has already left the country amid concerns that France’s Socialist leader intends to soak the rich and businesses. The actor Gérard Depardieu has renounced his French citizenship and decamped to Russia in protest, while David Cameron said Britain will “roll out the red carpet” to attract wealthy individuals.

Pierre Moscovici, the finance minister, said the comments by Mr Sapin were “inappropriate”.



but true..was probably bankrupt a long time ago..


~ by seeker401 on January 29, 2013.

12 Responses to “France “totally bankrupt” says labour minister Michel Sapin”

  1. Reblogged this on Screenshots News and commented:
    But then again we all knew that. We’re in the same boat here in the US at 16.3 trillion in debt and counting…

    • spot on mate..selling debt as most countries do means you are in debt firstly..and probably bankrupt..giant ponzi scheme

      • It’s most definitely a giant ponzi scheme. Many Americans know this and they R prepping like mad [ no matter how the media tries to paint preppers as ‘crazy’ ] they know what’s coming. They have eyes. What’s crazy is those who refuse to see it. Kindest regards.

        • thanks friend..


          “First they ignore you, then they laugh at you, then they fight you, then you win.”

          not so sure we “win” but you get my drift 🙂

          • If you love other human beings who R intrinsically good people then it’s worth the fight. If we don’t fight for what we know is good and right in our hearts, why bother living? Really. I’m not talking abt war or guns, but continuing to care, to read, to write, to speak out, to set the bar higher while others try to lower it.

            • yeah your on the right path..i agree with those sentiments totally..die on your feet rather than live on your others to become aware and they can make their decisions more informed..

              • It’s all I know to do. I do not believe in any kind of violence as a solution to the problems of life on earth. Life is sacred in my belief system, good to speak with you! Hope you have a blessed new year.

                • Ditto. It might be quite a year I think.

                  • Agreed. Do you know about Joel Skousen? I’m reading his front page right now. Go and check out:


                    • The guy is on the mark. Tech transfers, favourite enemies in Russia and china. I think the reason for the switch to sharia law Arab states is to make it look like Israel is surrounded by hostiles and gives them an excuse to be violent. Europe is dead and can’t be revived. Japan is a zombie state trying to rise from the dead as well.

          • And yes I DO get your drift!

  2. i don’t check this but i think i recall from History that F rance use W A R when is on economical troubles
    except readNato part

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