French prime minister declares bankruptcy

France is bankrupt and can no longer afford to pay its workers generous salaries and subsidies, its prime minister has declared.

Francois Fillon made the undiplomatic outburst during a trip to the French island of Corsica, where farmers were demanding more government money.

"I am at the head of a state that is in a position of bankruptcy," he said.

Psst. Don't tell anybody. France is not alone.

Big French Fire Sale coming too.

Full article.