France

Although ultimately a victor in World Wars I and II, France suffered extensive losses in its empire, wealth, manpower, and rank as a dominant nation-state. Nevertheless, France today is one of the most modern countries in the world and is a leader among European nations. Since 1958, it has constructed a hybrid presidential-parliamentary governing system resistant to the instabilities experienced in earlier more purely parliamentary administrations. In recent years, its reconciliation and cooperation with Germany have proved central to the economic integration of Europe, including the introduction of a common exchange currency, the euro, in January 1999. At present, France is at the forefront of efforts to develop the EU's military capabilities to supplement progress toward an EU foreign policy.

Economical characteristics

• Currency: Euro (ISO code: EUR,)
• Central bank discount rate: 3% (31 December 2008)
• Commercial banks lending rate: 8.13% (31 December 2008)
• is part of the Eurozone

See also: John Law inflation in France

See also: Inflation during the French Revolution

Statistics

Statistic / Year	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008
GDP (million USD)	1 457 450	1 327 960	1 339 760	1 457 330	1 800 020	2 061 320	2 146 580	2 266 250	2 593 130	2 856 560
Govt. debt (% of GDP)	60.575	60.674	59.746	63.415	68.084	70.457	72.343	68.336	66.565
Govt. revenue (% of GDP)	43.677	42.831	42.972	42.388	41.939	42.085	42.767	42.539	41.787
Govt. expenses (% of GDP)	46.065	44.812	45.013	45.961	46.292	45.841	45.754	45.081	44.397
Debt to revenue (years)	1.387	1.417	1.390	1.496	1.623	1.674	1.692	1.606	1.593

References

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

External links

• France on Wikipedia
• Central bank of France
• BBC country profile
• Peasants, Rise Up! The Croquants of the 17th Century; Jean-Baptiste Colbert; Jean-Baptiste Colbert and Louis XIV; Down with Collectivism: Merchants and Nobles in 17th-Century France; Louis XIV: Apogee of Absolutism; The Grandiose Failure of François du Noyer; The Skeptic as Absolutist: Michel de Montaigne by Murray N. Rothbard, from An Austrian Perspective on the History of Economic Thought, vol. 1, Economic Thought Before Adam Smith
• Money, Bank Credit and Economic Cycles (pdf), Jesus Huerta de Soto, John Law and Eighteenth-Century Banking in France, p.109-111, on impact of financial crises