France: “The Real Sick Man”
We’ve heard plenty about the economic woes facing Greece and Spain. But Wilbur Ross says France might be “the real sick man” of Europe, whose problems could be much more substantial long-term than either Greece or Spain. Ross is the CEO of W.L. Ross & Company, an investment banking and private equity firm. He believes France will be crippled by its high tax rates, coupled with regressive government policies thwarting private growth.