Lessons in Smart Spending from the French

Lessons in Smart Spending from the French

Sarah Coffey
Oct 2, 2008

As the credit crunch tightens its grip on America and Europe, the French are breathing easy. The BBC News argues that the reason France has escaped severe economic hardship lies not only in the country's stringent regulations on investment banking, but also in the everyday habits of the French people...

Reporter Emma Jane Kirby says, "It's not that temptation does not exist in France - the lure of consumerism is just as strong as it is elsewhere. But it is very difficult to spend money you do not have in France." Buying a home requires a large cash deposit, and credit cards are tied to bank accounts so that insufficient funds can prevent a purchase. Economic growth moves more slowly in France, but downfalls are also less dramatic. To read the entire article from BBC News, click here.

Photo: AT Europe: The Rules of La Brocante

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