The staff costs are higher at the Banque de France than in the Bundesbank! This is one of the conclusions of our comparative study “Banque de France vs Bundesbank”. On the one hand, 1.45 billion euros, in the other hand, 700 million euros! Regarding pension costs, the comparison also makes a (...)
Reforming is a path for reelection: German Chancellor Angela Merkel privatized, deregulated, capitalized. She did not reflate nor accepted deficits : she reduced taxes. For sure, there are some lessons to learn for France.
This is the translation of an op-ed published by Jean-Philippe Delsol on August 24th, 2013 in the leading French newspaper “Le Figaro”.
In France, during the last 30 years, social spending went from 21% to 33%. It is the sign of an ever growing Big Government that is out of control and (...)
WP 2013-04. Executive Summary
The critical situation of most state-pension schemes plays a key role in explaining the public-finance crises that characterize many West-European countries. Although most observers refrain from advocating full privatization, it is now widely accepted that (...)
The first significant policy move from the newly elected president is the repeal of part of his predecessor’s pension reform. As promised during the electoral campaign, President Hollande is bringing the legal age for retirement back from 62 to 60 years for those who started working at an early (...)
In 2010 the public deficit in Poland reached at least 7.9% of GDP. The public debt, in turn, balanced around 55% of GDP. In order to rescue public finance, the Polish government announced end of 2010 the dismantling of the reform of pension system. In the opinion of Polish authorities, this (...)
After weeks of internal discussions, the French government is unveiling its proposals to reform the pension system. One of the key measures is to push back the legal age of retirement, which currently stands at 60. The socialist party is fiercely opposed to this measure and is appealing to (...)