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What next for the euro if France rejects austerity?

Publié par Clifford Armion le 24/04/2012

Jeremy Warner

At a time when the UK Government is imposing another £16bn of spending cuts, is abolishing pensioner tax reliefs, and is apparently so financially stretched that it needs to tax warm pasties, it has somehow managed to find an additional £10bn to bail out the eurozone. This from a prime minister who declares himself a "eurosceptic". Is it any wonder that the Tories are trailing in the polls?

I've found myself genuinely torn by the debate around new loans to the International Monetary Fund (IMF). On the one hand, I'm a supporter of multilateral solutions, and find the spectacle of so many countries, some of them quite poor, coming together to create a bigger and more credible financial safety net both noble and inspiring.

Britain was one of the founding fathers of the IMF, and whatever the rights and wrongs of the euro, our future is vitally dependent on a stable and prosperous Europe. It would have seemed isolationist and almost gratuitously self-destructive to have stayed out while so many others were participating.
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Pour citer cette ressource :

"What next for the euro if France rejects austerity?", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), avril 2012. Consulté le 30/09/2020. URL: http://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/what-next-for-the-euro-if-france-rejects-austerity-