Upon his arrival at the Elysée, Emmanuel Macron assured him: “no more magic money”. It is clear that the situation has worsened. But the weight of debt is nothing new in France: it has stuck with our rulers for several centuries.
With Jean-Marc Daniel, specialist in the history of economic thought, we retrace the epic story of the French debt. And we start at the beginning: the creation of the State debt with the Public Treasury.
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The team: Charlotte Baris (presentation and writing), Jules Krot (production)
Credits: INA, Public Senate, France Info, Boursorama, StudioCanal, Warner Bros Pictures, Europe 1
Music and dressing: Emmanuel Herschon/Studio Torrent
Logo: Jérémy Cambour
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Charlotte Baris: Imagine, dear listeners, that while traveling with his family, Emmanuel Macron went to a restaurant. Then afterwards he goes on a shopping trip, before taking a taxi to return to the capital. Above all, imagine that all these private expenses are paid with the state budget, therefore with our taxes.
Let’s face it, such a situation would cause a scandal. But this is how France’s funds were used for a long time, particularly in the Middle Ages. The king’s personal portfolio was the same as that of the entire kingdom.
To go further
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Jacques de Larosière: “Bruno Le Maire’s record at Bercy is deplorable”