[Gatestone Inst.] The coronavirus pandemic in the northern hemisphere seems starting to subside -- perhaps just temporarily.
Many journalists wonder if Italy, one of the eight countries most affected in Western Europe, will leave the EU. Another country of concern is France -- not in great shape.
Although France spends a significant amount on its healthcare (8.6% of France's GDP), the pandemic there has been frighteningly mismanaged. There was a tragic shortage of intensive-care beds: 5,000 for the whole country, compared to Germany's 28,000. There was also, until the end of April, a near-total lack of masks and protective equipment for hospital doctors and caregivers. Further, there was the great lack of an ability to test for the coronavirus. The situation led the government to decide on one of the strictest general lockdowns in Europe. For eight weeks, the French economy, like others, effectively stopped. The results were devastating.
France, before the pandemic, was already in an alarming economic state. For several years, the country's economic growth rate had been barely above zero; the country's central bank had lowered its growth forecast for 2020 to 1.1%. France's unemployment rate was high (8.1%); it had not fallen below 8% for two decades. France was, in addition, paralyzed from any kind of growth by a proliferation of regulations and an omnipresent bureaucracy. The Index of Economic Freedom, published each year by the Heritage Foundation, ranks France number 64 , behind the United Kingdom (7), the Netherlands (14), Germany (27), and far behind formerly communist countries such as Poland (46), Romania (42), Bulgaria (37) or the Czech Republic (23)....