France is now spending 2.5 percent of GDP, or €77.5 billion, solely on interest payments for past borrowing. The IMF itself ultimately calls for fiscal consolidation and points out that France’s deficit must fall below the three-percent threshold by 2029. The IMF, however, still operates in a world where market capitalism was at least superficially accepted by the political and media mainstream. The IMF fails to explain that prosperity and economic progress are ultimately the result of low time preference and private saving. Just weeks ago, the IMF commented on the state of European public finances.