John Lewis’s managing director has described France as “sclerotic, hopeless and downbeat” and advised British entrepreneurs doing business in the country to pull out, reports The Guardian.
Andy Street said France was “finished”, adding: “I have never been to a country more ill at ease … nothing works and nobody cares about it.”
He made his comments, reported in The Times, at an event in London marking the end of a John Lewis competition for startup companies. Earlier this week he was in Paris to pick up a retail award for his company.
He told the gathering of entrepreneurs that the award was “made of plastic and is frankly revolting”.
“If I needed any further evidence of a country in decline, here it is. Every time I [see it], I shall think, God help France,” he said.
Street advised his audience: “If you’ve got investments in French businesses, get them out quickly.” The eurozone’s second largest economy is struggling for growth under president François Hollande and the country’s finance minister admitted last month that France will overshoot the EU’s 3% budget deficit target this year. The French economy has been hampered by low growth and poor tax receipts in recent years.
Street also compared the Gare du Nord in Paris as “the squalor pit of Europe” in contrast to London’s revamped St Pancras station at the other end of the Eurostar.
Read more of this report from The Guardian.