Video Description
France is on fire, and the economic roots of the unrest go far deeper than the street protests. Cory Klippsten explains why.
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Cities across France are seeing widespread clashes, but the underlying issue is a government struggling to pay for the promises it has already made. This video breaks down how a state spending 57% of GDP while borrowing to maintain the status quo creates a fragile system. We examine how the current pension system is protected by the voters who turn out most, making it hard to reform without significant friction.
Finally, we look at the structural limits of the euro and...
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