CHÂTEAUNEUF-SUR-ISÈRE, France — Jean-Luc Mélenchon has a radical idea to help solve France’s financial challenges: “set fire” to a large chunk of its public debt.
The far-left presidential contender would essentially have the European Central Bank agree to waive interest payments on a massive tranche of French bonds.
Coming from a top presidential hopeful, the proposal has triggered a flurry of criticism from leading economists and politicians, who have denounced it as irresponsible and dangerous for the economic stability of the country and the entire European Union.
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