Ellen .. I am not certain whether or not we are the only. But Americans do abuse credit cards, However, banks are also guilty. They USED to send everyone FREE credit cards .... ones landed in my US mailbox from banks I'd never heard of much less done business.

They were tempting.

I hope they don't copy the mistakes made in the US. I realize I'm totally stupid about this, but is the US the only country in the world that relies on credit like we do?

Stacy ... you are ever so correct. Most French only have debit cards versus credit cards. Some stores do issue cards where buyers can buy and pay in three payments without incurring interest.

There is talk of the Central Bank lowering interest rates to stimulate the economy.

Still - the French essentially live within their means. NOT all.

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