France’s minister of industry slammed famed British weekly The Economist after it ran a 14-page special report calling the country’s economy a ticking time bomb and the biggest threat to the euro currency’s stability.
The Economist has published “caricatures that are worthy of Charlie Hebdo,” minister Arnaud Montebourg told Europe 1 radio on Friday, referring to a French satirical magazine notorious for publishing a cartoon of a nude Prophet Mohammed in September.
In its edition set to hit news stands on Friday, the highly-respected British weekly warned that France’s high taxes on businesses were eroding the country’s competitiveness and that France was a bigger danger to Europe’s single currency than the debt-stricken countries of Italy, Spain and Portugal.
The Economist said both French leaders and voters were dangerously behind on much needed economic reforms and that a major blowback was on the horizon. “You cannot defy economics for long,” the weekly wrote, adding that “the crisis could hit as early as next year.”
The right-leaning magazine highlighted Europe’s strategic position in the Eurozone and its massive public sector that accounts for 57% of gross domestic product, the highest in the single-currency zone.
Read more: French fury at Economist’s ‘time-bomb’ warning - FRANCE - FRANCE 24
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