Wednesday, January 30, 2013
Goldman Sachs proposes to lower French workers their salary ...by 30%.....Yes Thirty percent.(EgaliteEtReconciliation).Google Translate.When Goldman Sachs bankers give their opinion on solutions to provide miracle solutions to France to stem the crisis, IT ... Hurts!
Huw Pill, chief economist at Goldman Sachs, one of the investment banks most prestigious and world-sulfur is not for nothing that it is called the "devil of finance" - was interviewed by The Huffington Post . According to him, they must simply reduce the salaries of all the French about a third. Nothing less!
To begin with, " Mr. Europe "of Goldman believes that, compared with Greece, France " has it all ", but it has two (small) problems: its" lack of competitiveness "and" imbalances in its accounts ".
Hold it! What's 'sriking' the finances? " The public sector ", accused of being" too important ". Officials enjoy. That said, the operating expenses of the State in fact represented 34.7% of total expenditure in 2010 (against 41% in 1960!), Is the second largest expense behind social benefits (45.3% in 2010 ).
So, in order to get out of the 'swamp' in which the hexagon is sunk, the economist has an idea: " lower general wages "to" regain competitiveness . " 3%, 5%, 10% ... ? No! " It is estimated that France should reduce its average salary by about a third , "says one who works in a company where, as pointed out Time to sign off , the bonus shares granted to the twelve members of the management team have exceeded $ 102 million in 2012, and where the average annual salary exceeded 410,000 dollars ... an increase of 9% in a year!
However, Huw Pill said he was " convinced that France can reform "in" three to five years , "and to" take the right direction . "
As for the euro area, he said it should " see a contraction less "this year than in 2012, but, he warns, the aftermath will not sing on. 2016, it was not until 2016 he estimated " to find modest growth . " Patience, then! " Europe is going to come out slowly but surely . " If an expert Goldman Sachs says, we are reassured.....Hmmm.....The US next?Read the full story here.