George Osborne spells out France’s problems - Telegraph
This might get a bit ugly
The Chancellor compared France to Italy, Greece and Portugal, which have already been hit by the financial turmoil, and warned that it was having to make tough decisions about public spending.
Mr Osborne disclosed that his European counterparts were “terrified” by their debt situation but insisted that Britain was in a relatively strong position as plans to cut Government spending were already well advanced.
Last week, French debt prices rose sharply and Gordon Brown, the former prime minister, warned that the country risked being “picked off” in the coming weeks.
Mr Osborne disclosed that his European counterparts were “terrified” by their debt situation but insisted that Britain was in a relatively strong position as plans to cut Government spending were already well advanced.
Last week, French debt prices rose sharply and Gordon Brown, the former prime minister, warned that the country risked being “picked off” in the coming weeks.
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