Wild deflection ^^

Southern countries understand there's no way back for you cuz you're in this shit up to your eyeballs. Forever paying for the southern freeloaders, nice union! (applause)

Sounds like everything is black or white with people like you.

Truth is that the southern members got you by the balls. You're never gonna see that money back. And when a second wave hits or any other economic misfortune, be prepared for another "deal" that they gonna force down your throats.

Le plan de relance adopté par les Vingt-Sept est "le moment le plus important de la vie de notre Europe depuis la création de l'euro", juge Emmanuel Macron

*When you realize you don't have a point so you post in a weird language nobody understands*

Awesome dodge, but you know, we can always do better, together:

The recovery plan adopted by the Twenty-Seven is "the most important moment in the life of our Europe since the creation of the euro"
Emmanuel Macron


Now please, go back in donald trump section.

ahahahahaa

Boatloads of cash wasted and that's what the frenchies have to say?

You guys should wake up to the fact that the southern economies cannot compete. Continuous devaluation is why there were almost 2K italian lira to the euro for example.

Not cash injection is expected soon. Pay up suckers ^^

What you dont understand is that France is a part of the Southern countries who want/need to run on a soft currency. Macron/France is very happy about the results of the EU summit since they hope that the joint debt issuance creates a precedence and is the first step toward establishing what they euphemistically call "fiscal union", actually meaning debt and transfer union. Tldr: they desperately need German money.

The background is that France is unable to reform its labor market/social security system/economy, as seen by Macron's struggles with the Yellow Vests (and similar failure to push through reforms by all his predecessors). France cannot finance its current model in the long run. Before the Euro currency union, they could devalue their previous currency, the French Franc, but that's not possible anymore. They suffer from the same problem as Italy, Greece and Spain. Instead of pushing through reforms that would be political suicide for him, he hopes to tap into German (and Dutch and Austrian and Finnish, but mostly German) money so that France can continue running its uncompetitive model without the need for painful reforms, at the expense of the taxpayers in the financially solid Northern Eurozone states (GER, NL, A, F).

Just for the record: the Franc has always been a soft currency, between 1953 and introduction of the Euro in 1999, the French Franc had lost a whooping three quarters of its value relative to the German Deutschmark.
https://fxtop.com/de/historische-wechselkurse.php?A=1&C1=FRA&C2=DEM&DD1=&MM1=&YYYY1=&B=1&P=&I=1&DD2=22&MM2=07&YYYY2=2020&btnOK=Gehen



Another factor that explains why France wanted these "corona bailouts" is that French banks are by far the most invested in Italy. If Italy ever went down financially, French banks, and in turn the rest of France, would be the next domino to fall. France went out of the compromise deal as a net transfer recipient anyway, but even if they had on paper been a net contributor, it would still have been worth it from a French perspective. An example with arbitrary numbers to illustrate this: say the French government ends up paying a net €10b in some EU or Eurozone bailout scheme, but foul credits in the books of French banks with a volume of €40b are rescued by this bailout - that's still a very good deal for France, even if they are a net contributor on paper.

This post was edited by Black XistenZ on Jul 23 2020 02:20am

don't try to educate that idiot. it has been fun watching him display his utter ignorance regarding european politics so proudly, completely missing even the most basic information, motivation, and concepts behind this whole deal.
i would have let him embarrass himself for some more days. now he's gonna claim he simply 'doesn't care' - after having posted about it for three days...

I know the french have scores of issues but the southern countries have bigger and more acute problems. You failed to mention that financial markets give france a lot more credit than certain southern members which means said southern members would collapse if not propped up by the other members. We almost saw a greek collapse after greece was downgraded to junk status by the financial markets.

These kind of rescue packages that are presented as "fantastic deals great for the EU" are simply needed to prevent a catastrophic financial crises that would lead to bankruptcy of southern members and perhaps the end of the union. Simple as that.

Also, I already mentioned that reforms are needed and certain countries have been dragging their feet for a long time already. See my post (bold part)