A thorough analysis of the Eurozone history and of past and current French policy problems is available in
Seeking Alpha,
here.
Excerpt:
“The
Bundesbank strategy, pushing the whole burden of adjustment on the deficit
countries in the eurozone periphery, by means of savage austerity hasn't been
successful and it's running against the limits of internal politics in many of
these countries.
The 'time
was ripe' so to say, to try something else. However, France might become more
like a peripheral eurozone country through more than just political
realignment. The danger is that France will experience the same kind of
economic problems as well.”
The recent
strength of the euro and of the stock markets in the zone could then amount to
a short-run Pyrrhic victory.
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