Debt - national debt- is the biggest problem of French economy. France owes 2.2 trillion euro to all kinds of banks, IMFs, agencies and to its own citizens. That of course is gigantic. In 1980, not so far away, the debt was 100 billion. 22 times less. The biggest issue in France, writes Serge Dassault, who owns newspapers such as Figaro and airplanes, helicopter companies, is that France “seated on a huge bomb” and that the explosion is nearing. 

                France is borrowing each and every year 200 billion euro. 70 to put into the holes of the budget and 130 to pay the interest of old borrowings.

                Today, interest rates are very low. If they go up by 2, 3, 4, 5%, which is not impossible at all, the financial situation of the country will be absolutely dramatic. Quite similar to that of Greece, forced to accept outside conditions for the daily life of its citizens.

                The public expenditures of France represent 75% of the national product, when the Germans are at 44% and the British at 43%.

                In France there are 84 public service employees for 1000 inhabitants while in Germany there are only 60 and in the UK only 45. 

                Each and every year the state spends more and austerity is only a mirage. 

                Serge Dassault proposes a radical tax reduction so that there is a real difference. This could be a flat tax already adopted by 5 European countries, Russia and many of the American states.

                A very forceful proposition. It should certainly be considered during this year of presidential and parliamentary elections in France.