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EUROPEAN AUTHORITIES ARE CREATING A “ZOMBIE ECONOMY”

... authorities continue to use the strategy of expanding state support measures, the number of bankruptcies is only decreasing. European analysts say that government programs are flooding the economy with zombie companies with high debts and an equally high ... ... rates are normalized. The French think tank Rexecode reports that about 10% of companies in the country have been saved from bankruptcy solely by government funds. Jeffrey Franks, the head of the IMF mission in France, believes that unviable companies should be left unsupported by allowing them to be ruined. This painful process is necessary,...

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