FRANCE: L' Austerite

For two hours last week the French, who regard austerity as something that uniquely suits the English temperament, heard some bad news about their own economy.

In a cool, monotonous voice, new Premier Edgar Faure painted a gloomy picture for the Assembly. Production has greatly increased since 1945, but, said Faure, "this improvement is insufficient to allow simultaneously building, modernizing, fighting the Indo-Chinese war, rearming and improving the standard of living."

In 13 months France's trade balance with the European Payments Union skidded from a favorable $212 million to an unfavorable $292 million, and a $560 million budget deficit is in...

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