Italy's Prime Minister: 4.4% Deficit in France Would be Better Than The Nationalist lLe Pen Winning in The Next Election

Matteo Renzi Italy's Prime Minister Nailed It On The Existential Dilemma Facing Eurozone Future, "I prefer to have a France with 4.4 per cent [debt-to-GDP ratio] today than a France with Marine Le Pen tomorrow." quote from Italian Prime Minister Matteo Renzi in an interview with the Financial Times and it's probably the perfect way to describe the situation that Europe has before it. (Via Vincenzo Scarpetta).

As previous news, Currently Europe faces a dismal economy almost everywhere. There's sky-high unemployment, a risk of deflation, and other ills of monetary crisis. But Europe won't take the measures needed to address the problem — like spending more money to hire workers — in part because the countries have agreed to a deficit pact in which the countries have all vowed not to borrow more than 3% GDP each year.

Matteo Renzi is right that a 4.4% deficit in France would be far better than the nationalist lLe Pen winning in the next election.

Source: business insider