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Laurent Fabius quotes
For a long time many believed that there would be an automatic adjustment and counted on a rapid increase in the wages of the emerging nations, on our advances in technology and the costs of transport preventing disruption. But this reassuring analysis is out of date.
The demographic weight of countries such as China and India exercise a massive pressure on our wages and salaries. They have accomplished massive technological advances and the revolution in information technology has reduced the costs of transport.
At the same time the Constitution sets in stone the Stability Pact and risks preventing member States from implementing a policy of growth. So we are not able to do things at the European or the national level.