Balanced budgets are not insane. Expecting socialism, Keynesianism, or MMT to work ... That's Insane.
Of course, France has no chance of balancing its budget.
Mike "Mish" Shedlock.
'balanced budgets are insane' is classic Newspeak. War is peace, freedom is slavery, ignorance is strength. Keynes is so 1984.
Living within your means? Outrageous!
So long as there is a chance of fiscal integration with Germany, Holland etc it will continue a very long while for the French. The French push for integration is specifically for this reason & the ECB will do all it can too. The solvent will be expected to cover the rest in the name of "solidarity".
The trouble with MMT and Keynesianism is that it fails to take into account the collapse in the velocity of money. You can stimulate and print all you like but if money velocity has collapse then it makes bugger all difference and just adds to government debts eg. Japan.