France: E=mc^2: can France defy the laws of physics?

6/26/2014 - Report
ic_blogtagFranceDeficitGrowthInsolvencyReforms
Recent data surprised on the downside but confirmed our below-consensus view. Advanced indicators suggest that GDP growth is likely to remain sluggish in H2. Business insolvencies to stabilize and possibly decrease. We do not thing the government will reach its 3% fiscal deficit/GDP target in 2015. Extensive but insufficient reform agenda.

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France: E=mc^2: can France defy the laws of physics? - Report