Few photos of the temples of energy and financial players during a day off in the French capital. Parisian façades, nothing else then simple façades. Without people. What is going on behind is up to you to guess.
Already by the end of 2010 59 % of non resident organisations and institutions where holding France's debts. The ratio of public debt to GDP is currently over 85 %. Now the government is selling off the family silver: Till 2013 it will sell 1700 Renaissance châteaux, Parisian Grand Haussmann buildings, medieval castles, Vauban barracks, fertile land and ecologically valuable forests, also to private "investors".
The French state is the largest owner of public property in the world: a heritage of the Revolution, as all the royal landowner had been expropriated on behalf of the people, combined with the legacy of a strong tradition of the Jacobins with the right of "public intervention".
A recent study by S&P says: "If the French authorities do not pursue the reform of the pension system, do not continue to amend the Social Security system and do not consolidate the fiscal situation facing rising health care costs and pensions, it is unlikely that Standard and Poor’s will maintain its AAA rating" and further adds with the hint from the economical torture camber "If nothing is done, S & P believes the debt to swell to nearly 370% of GDP in 2050".
Instead Of Letters, I'm Writing This Blog.
A picture may say more then thousand words,- language is still the tool of thoughts.
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