https://www.project-syndicate.org/commentary/macron-macroeconomic-policy-problems-by-charles-wyplosz-2017-07?utm_source=Project+Syndicate+Newsletter&utm_campaign=f7fa4ac2f2-sunday_newsletter_16_7_2017&utm_medium=email&utm_term=0_73bad5b7d8-f7fa4ac2f2-93854061
...it seems likely that many in Macron’s administration take the European agreements very seriously, even too seriously, and are repelled by the idea of vigorous spending cuts, because their power is related to the size of the purse they control. If this reading is correct, the French government will remain top-heavy, and the tax burden will remain suffocating.
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