The French have a cultural issue with the economy

Without saying that France is unreformable, Strasbourg-based independent financial advisor Christophe Brochard told Chinese news agency Xinhua that the “French have a real issue with the economy” mostly because “working” is completely discredited especially from a political viewpoint.

That’s why in spite of “incredible assets,” France cumulates too many “brakes to growth including high labor costs, discouraging fiscal policies, many hindering regulations and mass unemployment,” explained Brochard. The overall situation of the French economy indeed pales in comparison with its most similar sizes neighbors like Germany and the UK.

With the European Central Bank (ECB)’s very accommodative policy, the decrease in value of the euro against the dollar and halved oil prices since summer 2014, France’ economic growth has hovered around just 1% annually while it should be twice more at least.

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