Old 11-20-11, 07:52 AM
  #20  
T-Mar
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While you can't definitively rule out the possibility of a Spanish build, I'm leaning decidedly towards French. While the front are rear derailleurs are Zeus, the levers appear to be Huret. Given that the brakes and cranks are both French, as opposed to Zeus, the derailleurs are most likely upgrades from the original Huret models.

As for the lugs, while they look like Peugeot, the outside steps in the cutouts are rounded as opposed to square. These look more like a stylized wing, while the Peugeot looks like steps. They're obviously influenced by Peugeot, but it looks like somebody made an obvious and not so subtle improvement, so avoid complaints from Peugeot.
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