Europe – France

Black Money In France “At The Center Of Life For Politicians”

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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.

The Most Despised Tax-And-Retreat French President Has ANOTHER Plan

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President Hollande has a solution to France’s economic quagmire, with odds like a lottery. He’d launch a “responsibility pact” – one of his many phrases to haunt him later. It would be a radical shift. When you come to the end of your bumpy road, veer to the right.

French Megabank: “Germany Should Leave The Eurozone”

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Suddenly, there’s a solution to France’s economic crisis. Unlike the cacophonous clamor from the far right to drop the euro, this one is attractively presented with graphs and in terms that even a French politician might understand. And it’s not contaminated by partisanship.

The Most Despised Tax-And-Retreat French President Sinks Deeper Into Economic Quagmire

by Wolf Richter •  • Comments Off on The Most Despised Tax-And-Retreat French President Sinks Deeper Into Economic Quagmire

“Insurrection” is showing up in the French media, though it’s still more an exaggeration than a description. “Fiscal discontent” is better, but not broad enough. Now François Hollande, the most despised French President in the history of polls, is going to turn this mess around.

Gagging Doubt: French Crackdown On French And American Bloggers Who Question Megabank Balance Sheets

by Wolf Richter •  • Comments Off on Gagging Doubt: French Crackdown On French And American Bloggers Who Question Megabank Balance Sheets

France’s Financial Markets Authority slapped fines on two bloggers, Frenchman Jean-Pierre Chevallier and American Mike “Mish” Shedlock, “for having spread inexact information about the level of indebtedness” of megabank Société Générale. Instead of going after banks, bank regulators are going after bloggers! It’s more convenient.

Are You Overweight EU Equities For The Big Recovery Yet?

by Wolf Richter •  • Comments Off on Are You Overweight EU Equities For The Big Recovery Yet?

There has been a symphony of calls for American investors to plow their money into European stocks. So, net inflows into European equity funds have set records, driven by euphoria about a presumed recovery. Equities soared. But turns out, reality has bad breath.

OMG, Those “Who Truly Rule The World”

by Wolf Richter •  • Comments Off on OMG, Those “Who Truly Rule The World”

Most powerful person in the world? Putin! Sez Forbes. At least, it wasn’t Merkel, who has been throwing her weight around when she found out that her Handy had been bugged by the NSA, just like our cellphones. We have to take it; she gets to make a big stink and gripe to Obama on the (bugged) phone.

France Clamors for Currency War, Bundesbank Warns Of Housing Bubble

by Wolf Richter •  • Comments Off on France Clamors for Currency War, Bundesbank Warns Of Housing Bubble

The euro, its dexterous management, the “whatever-it-takes” guarantees by ECB President Draghi, the trillions being shifted around to prop up banks and governments – all these efforts to keep the Eurozone duct-taped together have hit countries differently. Including France and Germany. They’re shooting at each other now, and hitting the ECB.

Alcatel-Lucent “Could disappear,” Says CEO Michel Combes

by Wolf Richter •  • Comments Off on Alcatel-Lucent “Could disappear,” Says CEO Michel Combes

“The company could disappear,” said Alcatel-Lucent CEO Michel Combes, not exactly the kind of wondrous hype CEOs normally sputter to bamboozle people into plowing their money into the company’s stock. The end, after two decades of ingenious Wall-Street engineering, fee extraction, fanciful accounting, executive wisdom, and brilliant strategic thinking.

Mostly Cloudy With Occasional Drones In The Afternoon

by Wolf Richter •  • Comments Off on Mostly Cloudy With Occasional Drones In The Afternoon

Marseille has a problem: “account settlements” – a guy machine-gunned at close range for a drug deal gone awry. So the city is getting drones to keep an eye on hot neighborhoods. It’s not the only city. One more element in how privacy is traded in for corporate profits, governmental controls, spookily personalized ads, and harebrained hype about security.