Crisis in France: $12 million in debt per hour. Giorgia and Giorgetti beat Macron.
On September 8, the Bayrou government could fall
Antonio Polito / CorriereTv
For a long time now, Europe's crisis has been primarily a crisis for France, the Union's leading country, also the only one with nuclear weapons. It has been struggling for some time in a political and financial chaos that shows no sign of ending, and Bayrou 's minority government , a weak coup de grace in office for just eight months, is already on the verge of resignation.
September 8th, a symbolic date for us, seems tailor-made to exult the Italian right, which is angry with Macron, especially after the clash with Salvini. On September 8th, the National Assembly will vote on a motion of no confidence in the government, which could thus also trigger new early elections . But what is most striking is the public finance crisis in France: "Every hour of every day and every night," Prime Minister Bayrou said, "we accumulate €12 million in additional debt."
And that's why the government has proposed a massive €44 billion plan for public spending cuts. A bloody plan that the opposition, along with the government, wants to scuttle. It feels like we're reliving certain recent moments in our country's troubled history. From a public finance perspective, Italy has long been considered Europe's ugly duckling.Today, however, its financial stability astonishes even the French. Le Monde recently wrote that Macron should learn from Giorgia Meloni how to control public finances. And indeed, our spread has almost reached that of Paris. We have returned to a primary surplus after four years, and perhaps as early as this year, in 2025, we will fall below the fateful threshold of 3% public deficit.
In short, in the never-ending challenge between Paris and Rome, at least from this point of view, Giorgia and Giorgetti beat Macron .
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