The nationalists, who seized the presidency of the executive council of Corsica, are still demanding more independence. The president Macron, visit the island of Beauty last week, has not seemed to want to compromise. Eric Dor, director of economic studies at IESEG, however, wanted to study the effects of a total independence of Corsica. Result: an equation that is untenable.
One of the French regions, the poorest
gross domestic Product at current prices per capita, in euros, calculated in 2015 on the old French regions. Source: Eric Dor
For a start, the island could no longer receive subsidies to public services, which employ more than 35% of the population. The economy of corsica is, in fact, little diversified, with a manufacturing industry under-represented (3.3% against a national average of 11.1%) and agriculture on a small scale.
An economy is under perfusion of the public services
Share of employment in the public sector and managed services in total employment, by region, by 2016. Source: Eric Dor.
The Corsican would otherwise be excluded from the european Union. Which would mean the end of european funds (€275 million paid over the period 2014-2020), but also the return of customs duties and the exit of the single currency. What heavily encumber a trade deficit already estimated at 1.5 billion euros. The only viable solution could be to transform Corsica into a tax haven.
The rate of coverage of imports by exports of Corsica is the worst of all the regions of metropolitan France.
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unemployment Rate, by region, in the third quarter of 2017, in %. Source: Eric Dor.