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Public spending and job creation in France- the alternate view of central bank chief Christian Noyer
12/10/2011
France's central bank chief provides an alternate view on public spending to create jobs in France. Public spending tends to focus on preserving yesterdays jobs and not as much on jobs for the future. Once public spending reaches a certain level of GNP of about 55%, a level France has crossed, the benefits shrink and the effort is counterproductive with the public expecting higher taxes in th future.
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