Will the EU Stop the French Left from Borrowing More Money?

I know more about France’s political system than my country’s system from all these french videos😂

Hollande's 75% supertax was never actually implemented. This was considered unconstitutional by the French Constitutional Court. A minor variation of this project was imposed on company employees' salaries for two years. The overall point is correct but the 75% tax on overall earnings was never done.

No matter if it's in America or in EU, no one likes EDPs 💀

Melenchon just said "no new expenses without new revenues". Now, I get this is just rethoric, but it's already more fiscally responsible than pretty much all Italian politicians lol

France has been unable to balance a single budget since 1973. Let that sink in...

That title was incredibly clickbait. Calm down people...

All this video is based on the french left being allowed to govern France. But thats not at all a given, they dont have majority. You should ask "what government Frnace is going to have" before starting predictions on stuff that might not happen

It’s a bit sad to see the video isn’t as graphical as before, now mostly made of stock footages. I know graphics are costly, but they’re more interesting to watch.

5:18 France's 75% super tax actually never got past the Constitutional council, this was never made into actual law. Saying that it got suspended after a few years is not only misleading, it is factually incorrect. And the conclusion that transpires from this statement is widely inaccurate : France has actually had a much more progressive income taxing in the past, with great results in terms of public finances. The narrative of conservatives (nothing can be done because of a so-called "bon sens économique") seems to have been digested pretty well there

I don't even think they will have a government let alone borrowing more money

That thumbnail title though... Yeah, Brussels will drive tanks through the Ardennes to go to war with France.

When France sneezes the rest of europe catches a cold

I remember when Slovenia was having economic problems after the 2008 crisis and it had to abide by the rules of not getting more in debt as it was. There were threats of Troika stepping in and effectively making decisions if it was not done by the government in time. It was a very stupid move by eu with their austerity measures and ultimatums. Eu luckily changed their methods in Covid era. But I see it very hypocritical that now the french dont like the rules of this game, especially when they were quite active when Greece had their debt problems.

Wait so the plan for dealing with countries spending too much is to fine them? What kind of plan is that?

To be fair, the most sustainable way to grow an economy and pay a debt is by funding programs that pay for themselves in the long run. Austerity would just force the issue to repeat itself in a decade when the country as a whole is poorer and thus forced to borrow more.

And I thought my country's debt was bad.

US to France: “hold my beer.” “Our debt is 123% of GDP.”

War is a bit of an overstatement

The current French deficit is also due to a lack of tax revnue rather than an increase in public spending. France has to find out a way to efectively collect taxes or the state will eventualy go under.

The super-rich are exceptionally skilled at evading taxes. There'd probably have to be some major international tax reform to make it effective, which again is difficult. Still seems more feasible than revolution at this point, though.