Jul 07 2014
Once again, Michel Sapin1 won the award for humor. "Our friend is finance, good finance2" Sunday launched our Minister of Finance Economic Forum Aix-en-Provence 20143, which this year had the theme "Investing invent tomorrow." Intoxicated by the brightness of Provence, our bagman asked himself the question: "Will it finance a happy, happy in the service of investment, to make people happy?" "Good finance" is one that contributes to real investments. But the needs are enormous. This is even with unemployment, the only true sequel to the global crisis of 2008-2009, as recalled Christine Lagarde4. "At the end of 2013, the GDP of the G205 was 8% lower than their underlying trend (if there was no crisis) and investment down 20% over what should be, "said the director of FMI6.
The diagnosis applies equally to private investment firms for public infrastructure projects. The World Economic Forum Davos7 has calculated that the global economy devoted to these 3700 billion a year in the 1980s. Today is just 2,700 billion, is a lack of 1,000 billion. Citing these figures, Christine Lagarde revealed that the IMF would present a study on this topic in early October on the 40 major economies.
"In the United States, the United Kingdom and Germany, budgets are now 10% lower than they should be," said said the boss of the IMF, while noting that, for France, it was not the case. The French deficit investment is doing well, in her view, on private investment. Collapse
Michel Sapin, for its part ready to subscribe to this diagnosis, if not it also recognizes that danger looming on the side of local authorities. The new municipalities are now "very careful, a too cautious," said he acknowledged at his press conference. Already smarting from the collapse of the housing investment, which "cost 0.4 percentage point of GDP growth" we, according to his figures, it should not be depressed after the building now gaining public works. Featuring
himself an outstanding hearty temperament, Michel Sapin is satisfied that the conditions of the trust is there, "now that companies perceive new opportunities and the CICE arrives in their accounts. " As for the discontent of social partners, Medef8 among others, and the left wing PS9, he summarized by this formula: "The complainers, the rechigneux as they say in Berry, feed the slingers, and the slingers feed moaners. "