France has had effectively no economic growth this year, unemployment is hovering around 10 percent and Hollande's approval ratings are sunk in the teens. The country is under pressure from the 28-nation EU to get its finances in order, but Economy Minister Arnaud Montebourg has criticized austerity as the wrong medicine to foster growth and argues the government should spend more freely to create jobs.
He lashed out at the government's policies in a final adieu as minister on Monday.
"The entire world is urging us —even begging us — to end these absurd austerity policies that are plunging the eurozone into an economic slowdown," he said in a statement to the press.
"My responsibility as economy minister is to tell the truth, and observe... that not only these austerity policies are not working, but they are also unfair, as well as being ineffective"Contrast with the Argentinian socialist-optimists now suffering default after default in Argentina where their government persisted in spending money it didn't have for generations. At the turn of the last century, Argentina was the 4th richest nation in the world.
The French and others occasionally remind me of the little person who declared she did not want to learn from the mistakes of others! She wanted to make those mistakes for herself! Admittedly, she was only 7 at the time.