Évelyne Ternant at a meeting in Varennes-Vauzelles for candidate Fabien Roussel: “Bringing retirement back to 60 is economically efficient!”

The Franche-Comté economist Évelyne Ternant held a meeting in front of around sixty people this Thursday, March 31 in Varennes-Vauzelles in support of Fabien Roussel, communist candidate for the presidential election.

Before that, the co-developer of the “Roussellian” program mentioned for The Journal of the Center the financing of the program and its position on pensions.

According to some experts, Fabien Roussel’s electoral program is the biggest spender (€287 billion) and the least revenue generator (€155 billion)…

Our program is very ambitious, as you have noticed. But the experts you talk about have underestimated the upcoming recipes. The revenue will be of several orders, starting with the recovery of 50 billion per year out of the 80 billion euros of annual tax evasion. The return and the tripling of the wealth tax will bring in thirty billion. The recovery on public aid will be much higher. I quote Renault and Stellantis (PSA + Fiat) which received 11 billion in aid and which continue to relocate: a pure waste of public money!

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All this does not balance the report, expenses-receipts...

Certainly, especially since in addition to taxing capital, we intend to lower consumption taxes, which are very unfair. The second lever of revenue, undoubtedly the most important, is bank credit. We propose that the European Central Bank lends directly to the States, without going through the banks. Bank credit for businesses is 160 billion per year.

“We need to get our hands on the banks…

How to weigh on the banks?

To have control over bank credit, you have to have control over the banks. We therefore propose to nationalize BNP and Société Générale, as well as AXA insurance.

And not Total?

No, but this firm will not be ignored. We propose to create a public pole of energy with renationalized EDF and Engie. We will bring Total Energies into this division with very important specifications. Total made 14 billion euros in profits in 2021. We will send it an order not to distribute dividends this year to help reduce the energy bill of individuals.

…And on strategic groups »

Banking, insurance, energy… Still others?

Yes, we plan to nationalize strategic groups. Sanofi in the pharmaceutical field in particular. I would like to emphasize that it will not be a question of nationalization, any more than of technocratization. We will not repeat the mistakes of Crédit Lyonnais. Employees and users will be included in the decision-making process.

On the pension side, bringing the retirement age back to 60 with a pension calculated on the ten best years is more attractive than Emmanuel Macron’s goal of 65. Isn’t it too expensive?

It will cost 100 billion. Consider, however, that Communists are people who know how to calculate. And who look at the reality: the wealth created for thirty years by the French at work has more than doubled. It is a scam to pretend that you have to work longer. The forty richest companies generated 160 billion in profits last year: we call that the cost of capital. This sum added to the interests with the banks border 300 billion per annum; Employer contributions represent 200 billion. We intend to reverse this balance, and we will be able to finance pensions. Doing good living is economically efficient. And reduced forced working time, that’s social progress!

Interview by Jean-Christophe Henriet

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