With Iraq unable to purchase large caches of weapons of mass destruction from France, the French economy shrank 0.3%. France's Prime Minister Jean-Pierre Raffarin released a statement blaming the U.S. ouster of Saddam Hussein for the sluggish economy. Exports dropped 0.6% and consumer spending dropped 0.2%. "The second quarter was exceptional owing to the consequences of the war in Iraq," said Raffarin in a released statement.

Still, the Prime Minister was upbeat about France's financial prospects. With Hussein out of the picture, France will turn attention toward the other members of the Axis of Evil. Despite the recent setback, Raffarin expects that a marketing blitz in North Korea and Iran will create "an expansion of 0.8-1.5% for the year as a whole".