All is well in France, according to the soaring stock market. But beneath it lies a terrible reality.
He has “no name, no face, no party,” “never runs for office,” “and yet he governs,” François Hollande said about “his true opponent” in 2012. The speech went viral. But that courage didn’t last long.
Election results for the European Parliament mortified the French political class, as this universally despised layer is called in France. But now the winner has the gall to accuse the government of “having rigged the vote by the most odious means” to prevent its victory.
Boeing got more orders in the first quarter than archrival Airbus. So at the ILA Berlin Air Show, Airbus CEO Fabrice Brégier spoke up against this ridiculous injustice. True to his Frenchness, he exhorted the ECB to do what central banks are supposed to do.
The battle between the US and France has been brewing for months, but now it came to a head: the French government decided to spite the US and move forward with the contract to deliver two warships to Russia. To heck with those silly sanctions.
Finally we know why French government debt and French stocks have performed so well, despite the crummy economy, and why France has been spared so far the fate of Cyprus: the fiasco won’t happen suddenly in France, the bank reported. It will be slow and torturous.
By Don Quijones: When it comes to dodgy landlords, few have it quite as bad as the tenants of a number of housing projects in Spain who were notified that the government had sold their units to an innocent-sounding investment fund called Cibeles.
By Don Quijones: Christine Lagarde, former economy minister of France, now Managing Director of the IMF, by pledging her undivided allegiance to the dark interests of those she serves, has inflicted untold devastation on families and communities across the globe even as she’s tangled up in a sordid corruption affair in France.
His US visit might give the French President the boost he sorely needs at home, because at home, things are getting mired down. The economy shriveled or had no growth in five of the last eight quarters. The dominant government sector is well, but businesses are failing in record numbers.
Someone in the French government deleted 3,300 French names from a purloined list of accounts at HSBC Switzerland. Their revelation would have left the despised French “political class” red-faced and in deep trouble.