France's Fiscal Austerity Proves Difficult to Implement

Last week, the International Monetary Fund (IMF) made a rare statement on France's fiscal issues, with unusually harsh wording. The remarks reflect the multiple challenges facing France's fiscal austerity plan, and the market has considerable doubts about its medium- to long-term debt repayment path. France is one of the important economies in the eurozone, and if its fiscal problems cannot be properly resolved, they will become an uncertain factor for the eurozone and the global economy.