“Calling on morality to denounce France’s debt is not without danger” | EUROtoday

“This question, deficit and debt, is a question that poses a moral problem”declared François Bayrou on the steps of the Hôtel de Matignon, throughout the switch of energy on December 13. “Relieving your burdens on your children is very frowned upon, and rightly so. » This is not the first time that the Christian Democrat has accused the public debt of being “immoral”. Already throughout the 2007 presidential marketing campaign, he spoke of ” shame “ and even “dishonor”. An obsession that has by no means left this man steeped in Christian tradition. In it, the sinner is a debtor, the Messiah a “redeemer” (“the one who redeems” our debt).

In the Our Father prayer, the premise of the Christian faith, the fifth request is written as follows in Greek: “And forgive us our debts, As we have forgiven our debtors”which is translated as “forgive us our trespasses, as we forgive those who trespass against us”. Forgiveness is subsequently assimilated to debt forgiveness. In Aramaic, the language of Christ, it is usually the identical phrase which designates ” debt “ And ” mistake “. This can also be the case within the German language with “Schuld”as Nietzsche identified in Genealogy of morality. However, in Europe, as we all know, Germany has, over the many years, imposed its imaginative and prescient of financial and budgetary points. In his ordoliberal strategy, steadiness is sort of sacred and debt is a shame.

In monetary demonology, the worst satan is public debt. This collective sin is dedicated to the detriment of “our children”. Many economists have been making an attempt, for years, to debunk this cliché, stringing collectively arguments: after we bequeath a debt “to our children”we essentially bequeath an equal debt; it isn’t our kids who pay the money owed we contract, however ourselves – the common maturity of public loans is the truth is eight years; any restoration via debt results in a rise in non-public funding and subsequently… will increase the wealth bequeathed to our kids; future generations won’t ever actually be harmed as a result of the State does ” to roll “ the debt – he repays the loans when due by taking out new loans – and that inflation, little by little, eats away at it; and many others. Nothing helps, the “burden-bequeathed-to-our-children” nonetheless haunts politics.

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