“Structural reforms and respecting European treaties are the two pre-requisites to reduce deficits in the long-term and boost the economy’s potential growth rate which, at around 1%, is much lower than the government estimates (close to 4%). It is the French economy’s ‘corsets’ that are to blame for the country’s weak growth (both potential and recorded) which itself generates the deficits and not the austerity policies made necessary by galloping deficits as partisans of the so-called demand- led policy think. The French economy is primarily ill because of its public finances.”

— Éric Pichet

Le programme de stabilité et le pacte de responsabilité : la trajectoire des finances publiques de 2014 à 2017 http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2499496 Article in Revue de Droit Fiscal n31-35 (2014). <br class="br">Structural reforms, The French Economy corsets

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Éric Pichet12

economist 1960

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