In this video, economists Yanis Varoufakis and Wolfgang Münchau discuss France’s massive debt problem amounting to 3.6 trillion euros. They argue that this issue is not due to the French government’s fiscal mismanagement, but rather stems from structural flaws embedded in the currency system of the euro itself.

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Key discussion points:

• Structural problems of the euro (0:37-1:04): They point out that it is a nearly impossible task for countries with different economic structures, such as France and Germany, to maintain a fixed exchange rate (the euro).

Source: no+e