France is in debt, but the French are not

Credit has not been as widely available in France as in the US, though it has become more and more apparent in advertising, with stores proposing credit cards and extended payment plans. Even though more French are being tempted to buy new TVs and other items, overall they still seem to spend conservatively.

"With yet another deficit budget released last week, France is feeling the credit crunch. Yet unlike the state, French households aren't heavily indebted. RFI's Angela Diffley looks at French borrowing habits, and how the credit crunch is affecting them."

Listen to her report here:
http://www.rfi.fr/actuen/articles/105/article_1723.asp