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Friday, May 25, 2007

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Lafayette
Translation: they're spending too much and/or not taxing enough.

Or, how about this one: They don't even know how much they are spending!

State spending in France is so chaotic there is no consolidated accounting of expenditures. Revenues, yes, because they all come into the Treasury. But spending, no, because each state agency has its own expenditure accounting system and they do not even sum up within their ministry of tutelage.

Vive la France ...

Joe

Ditto last comment for Croatia, an emerging one in Europe that looks even worse than France. It's worse when you don't know where the money is going even if you know how much of it there is. Total lack of transparency of who gets what. Obviously, that is because of politicians show where things are going (est. 6% of the budget to clinically dead state companies) you would have a revolution. How to make them show the money?

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