Financial proposals

[Galveston Bay]

So France is now in a great big war and has a debt of 30 points

The Crown just ordered the seizure of roughly half of the Church lands (roughly 3% of the land in France, the Church owns 6% prior to that seizure) plus seizure of any accounts held by the Church in France and Naples

So can I do this... establish a new financing scheme refinancing the debt and borrowing additional sums based on this rather large amount of collateral, with proceeds of land sales to use as part of the repayment.  

IF so, how much can I do and what terms

Or would you rather just go to deficit spending for France to make life easier?  

I am going to proceed as normal for 1712 while the NPC financial people (the referee) figures out what he wants to do but if there was ever an incentive, this would seem like a big one to be creative for France

[TLS]

I've addressed this issue in your thread by giving you a one-time income bonus from the seizure and (at least attempted) sale of Church assets--20 points overall (15 for France, 5 for Naples). I am not inclined to go to deficit spending at this time.

Also note that the debt limit you have is per FC--so if you've maxed out your debt already (the war just started!) you can try to look elsewhere. France is not limited to a total of 30 points of debt, but that's all that your FC can support. You need to find bankers somewhere (shame you decided to declare war on the Dutch, who have like 3 FCs)--or you can just choose to default on your debt, which is not at all uncommon, though I'd generally recommend you save ruining your credit until after the war. You also can choose to solely pay back the interest at this time.

For a point of historical comparison, France's current debt burden is over 100% of Metropolitan France's income (30 points, when Metropolitan France brings in like 29.6)--which, in actuality, is twice France's debt burden in 1788 (as a % of GNP), though more like 75% when the colonies are taken into account. So the current system is letting France (and, probably, all you) be more indebted than it's historical financial system 80 years later OTL would have been able to support. But this is a game, not an economic simulator, so cheap money is the name of the game!

[Galveston Bay]

works for me

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