Prof Brigitte Granville, CGR director and Professor of International Economics and Economic Policy at Queen Mary University of London, has talked to the Telegraph’s Ambrose Evans-Pritchard about France economic woes.
In his article analysing the economic repercussions of the past Friday terrorist attacks on Paris, Evans-Pritchard highlights how President Hollande is trying to “retake control over its economies” by pledging a massive increase in security and defence regardless of EU deficit rules. Commenting the state of France’s economy he quotes Prof Granville:
“Professor Brigitte Granville from Queen Mary University of London said the country has been losing competitiveness within Europe’s monetary union for so long – not helped by a labour code still 3,648 pages – that it is now caught in a stagnation trap with the wrong intra-EMU exchange rate. She warned that the country is on a slow slide towards economic “catastrophe”.
You can read the original Telegraph’s article here.