Five World Cup Economies on the Decline: France

In about a decade's time, France has gone from a World Cup champion and runner-up to a last minute qualifier. Had it not been for a controversial non-call on a handball against Ireland, France wouldn't have made 2010 World Cup, and perhaps the country would have been saved the misery of a disastrous campaign in South Africa. Down 2-0 in a qualifying playoff against Ukraine, France had one of its best footballing moments in recent memory in a 3-0 win in Paris that earned the team a trip to Brazil. Although France will miss perennial Ballon D'Or runner-up Franck Ribery, the country is a good bet to advance to the knockout round after drawing Honduras, Switzerland and Ecuador in group stages. From there, who knows. Economically, France's prospects are equally uncertain. Under President Hollande, France has sought to mend its finances by increasing taxes on high income earners, alienating many business leaders and corporations. At 46% of GDP, taxes paid to the French government are now the highest in the Euro area. Hollande, the most unpopular French president in 50 years, has paid a political price for the country's weak economy as the far right party gains ground.