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| Europe |
| French trade deficit widens |
| 2007-08-09 |
| The French trade deficit with the rest of the world widened 16.5 percent in the first half of the year to 15.046 billion euros (20.6 billion dollars) from the same period last year, official figures showed Wednesday. But the shortfall in June narrowed to 3.011 billion euros from 3.218 billion in May, according to customs authorities. "The trend is not good," secretary of state for trade Herve Novelli told RTL radio just before the results were announced. "France is losing market share." Novelli said that while the rising price of oil and the appreciating euro had contributed to the deficit, they were not solely to blame. He noted that in the first five months of the year, France sold more aircraft than it had ever done before in the period despite the rising euro, which tends to make eurozone exports more expensive and less competitive. He attributed France's trade weakness to "structural factors at the heart of our economy that are preventing us from giving our full measure." |
| Posted by:lotp |
| #8 And yet despite all that is wrong with the French economic system, the Euro continues to climb relative to the dollar. NET productivity favors the French: we are more efficient producers but effectively print even more money to cover our higher consumption. |
| Posted by: Glenmore 2007-08-09 16:11 |
| #7 Other "structural factors": 5. Burgeoning welfare state providing living for jihadis hell-bent on Islamicising France. 6. Lack of courage needed to enforce existing laws and secure the peace--resulting in hesitation by capital holders to invest there. |
| Posted by: Crusader 2007-08-09 12:40 |
| #6 He attributed France's trade weakness to "structural factors at the heart of our economy that are preventing us from giving our full measure." Now what "structural factors" could that be: 1. 35 hour work week 2. 30 days government guaranteed paid vacations 3. strong arm labor unions that stifle competition and increased productivity 4. political parties unwilling, unable and incapable of chaning a nations lethargy and antipathy to work versus narcissistic pleasure in telling everyone else how to behave. A nation of Al Gores and George Soros. |
| Posted by: Jack is Back! 2007-08-09 12:05 |
| #5 I would guess the problem comes from the usual culprits; China, Malaysia, Vietnam. |
| Posted by: bigjim-ky 2007-08-09 10:30 |
| #4 Sorry 'bout that. But, it couldn't happen to a nicer country. *snicker* |
| Posted by: BA 2007-08-09 10:06 |
| #3 It doesn't get much clearer the second time. |
| Posted by: Gary and the Samoyeds 2007-08-09 09:16 |
| #2 French Left = anti-Bush-GOP US Left > "Paris isn't giving/paying enough"??? |
| Posted by: JosephMendiola 2007-08-09 02:31 |
| #1 French Left = anti-Bush-GOP US Left > "Paris isn't giving/paying enough"??? |
| Posted by: JosephMendiola 2007-08-09 02:31 |