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French Socialist Regime: Oops, we are bankrupt

Socialist Party member and French Labor Czar Michel Sapin says France is “totally bankrupt”

The radical Socialists who promised everything to everyone now say the country is bankrupt.

From The Washington Times…

France’s job czar embarrassed Socialist Party President Francois Hollande with weekend claims the country is “totally bankrupt,” according to various media.

But now French politicos are fighting back, calling Labor Minister Michel Sapin’s depiction of the nation’s fiscal health as inappropriate, and untrue.

“France is a truly solvent country, France is a truly credible country,” said Finance Minister Pierre Moscovici, in a BBC report.

Mr. Sapin made his bankruptcy remarks during a Jan. 27 radio address, during which he spoke of the need for an austerity plan.

“It is a totally bankrupt state,” Mr. Sapin said then, according to a report in The Independent. “That is why we had to put a deficit reduction plan in place, and nothing should make us turn away from that objective.”

His statements reportedly sent shockwaves through the business community.