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Business Case

Essay by   •  July 19, 2012  •  Essay  •  428 Words (2 Pages)  •  1,626 Views

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This article pertains to the new government force in France, with deep political and social reforms despite the difficult budgetary situation and thus comply with campaign promises of President François Hollando, In addition to the continuous in order to reduce the budget deficit, which exceeds the limit set by the European Union (EU), In addition the writer emphasizes that France is not far from becoming part of the PIGS countries (Portugal, Italy, Greece, Spain) and points out that the approach by the new government can have a near future economic decline for the country.

There are many topics in this article that can relate to the material covered in class, to start with the weakening of the Euro, and strengthen of the Dollar, many American companies that went overseas in this case Europe are coming back because of the considerable decline of the Euro, the lack of certainty in the markets, and extensive tariffs in countries such as France is bringing business back to their home country. As the raise of taxes the main focus of the entering government is to target the rich mainly the investors, large business and the wealthy with taxes target profit of 7.2 billion, what is not mentioned on the article is that foreign companies will try to exit out, to a more freely operated country, or in the other hand local companies going to neighbor countries to exercise production. Every time we see a democratic country taking a turn into a socialism, a fear of privatization, or expropriation arouses, bringing to my attention the case on Venezuela and Hugo Chavez, but in this case, far from comparison. All previously mentioned with the goal that within three years the government deficit to reach the 3% limit imposed by the EU

I personally think this is a wrong approach, since the only thing is doing, is scaring the foreign and local business who play major role in the economy, as reading an article on Greece where their main exports where olives to make olive oil, but they didn't improve and imposed tariffs, although is just one export, it is important for the sustain and continuous improvement and health of the economy. In addition since France and Greece are part of the EU, members the citizen of each country us free to move to any neighbor member country, and establish looking for lower tax tariffs. As of today the taxes that are been charged may cover the hole, France has been digging for the past years, but more than likely next year taxes won't be sufficient.

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