Posted Oct 14, 2014 by Martin Armstrong
France’s Francois Hollande has come up with a brilliant idea. He want to satisfy EU rules not by reforming France, but by creating of a new EU investment fund of €300 billion euros. This fund should produce an annual flow of €10 billion euros for Paris. With the creation of such EU funds, France can avoid the necessary restructuring of its budget.
Of course, why someone would “invest” in something that is not profitable and would never return any investment capital is beyond contemplation. Hey – when you are a closet communist, whatever belongs to anyone else is really yours anyway. I just do not grasp where any logic can be found. As long as it is “investment” and not debt, then it qualifies under the rules. That also means you don’t have to pay it back either. Just brilliant! Any buyers?