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France "Totally Bankrupt", Says Labour Minister Michel Sapin (01/28/2013)

By Tyler Durden, On ZeroHedge:

"Things in France must not be very serious, because the French labor minister accidentally let the truth come out a little earlier today. As the Telegraph reports, France's labour minister sent the country into a state of shock on Monday after he described the nation as “totally bankrupt”.

Remember: France is one of the supposedly stable countries in Europe.

"Michel Sapin made the gaffe in a radio interview, which left French President Francois Hollande battling to undo the potential reputational damage. "There is a state but it is a totally bankrupt state,” Mr Sapin said. “That is why we had to put a deficit reduction plan in place, and nothing should make us turn away from that objective." It appears that once one wipes out the propaganda and the smooth politico talk, things are bad and getting worse at Europe's core. "Data from Banque de France showed earlier this month that a flight of capital has already left the country amid concerns that France’s Socialist leader intends to soak the rich and businesses. The actor Gérard Depardieu has renounced his French citizenship and decamped to Russia in protest, while David Cameron said Britain will “roll out the red carpet” to attract wealthy individuals. Pierre Moscovici, the finance minister, said the comments by Mr Sapin were “inappropriate”.


Read on:


Thus, as earlier reported by the Telegraph:



My own comment on this, as a French citizen?

I've decided it's too late for today I get angry and go on a rant. I'll keep my word. And will just say :

"Fin du Jeu! Même joueur, jouez encore !"


"Game Over! Same player, shoot again !"

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Cyril's picture

Okay. So what, now, France?

Okay. So what, now, France?



"Cyril" pronounced "see real". I code stuff.


"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Nuclear power costs more than it produces in electricity.

However, it provides central control of electrical power generation. Bankruptcy is the unintended consequence.

Free includes debt-free!