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France’s New President Pushes for More Spending

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    Former U.S. Ambassador to the UN John Bolton on the push for spending in the EU.

  • Duration 2:36
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My fear OK -- Prepared to shoot it down everybody but this is a ferry and -- got ambassador John Bolton the balance my theory off okay here it is ambassador.

I think President Obama was pressuring Angela -- the John and lead up very very intensely.

Get out that and please spend some money in Europe open up your wallet -- haven't site please do not have up trash in Europe before my reelection campaign in November up.

And I think the market believes that Angela Markel will cave and print and you say well I think your theory is actually reality I -- that's exactly what Obama was doing I don't think Merkel spent a -- though.

I think what you saw in the G-8 was a reflection in part of recent election results in Europe in France certainly Francois along the new.

President is a social democratic stimulus -- The United Kingdom and -- and German local elections have been against the austerity party.

But I don't think -- got to move she actually believes in us and she's not gonna give them.

Okay just just -- speculate with me for a second and you -- -- like to do but speculate anyway.

If she did open up posters -- OK the -- concerns about go go print some money go do it.

What would have.

Well since that is essentially what's gotten Greece and Spain and some of these other countries in trouble again with it's not gonna get -- that it will simply postpone.

The inevitable reckoning that they're trying to go through now I think will cause inflation in the European Union and will cause general problems for their economy which will which will hurt us but until after the election I don't think so I I think the European economy is very very close to -- press this I think they're on the verge of having -- makes very hard decisions.

And I think this time if they try to float the banks a little bit further it's not gonna work I think Merkel understands that view so you say Merkel doesn't bunch.

I'm going to make the right noises but she does not actually -- I've been to many G-8 meetings they never disagree that's an article of religious faith so I'm sure she went along with that statement now she's back in Berlin she's not gonna -- this is very important fuel -- if she doesn't -- she's back in -- she does not bunch if that's the case.

Then presumably this financial crisis in Europe is very very close the -- -- he's close this summer in -- well I think so I think they've got to make a decision whether Greece stays in the Euro or not and I think other decisions follow from now give you one example the French want Euro bonds she will not agree to -- you heard it here first I did we did -- he's he's.

That's ambassador thank you very much indeed this is FaceBook -- also angle locals Venezuela right back.

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