December 14, 2012

The French Death Rattle

Brigitte Granville, Project Syndicate

AP Photo

Once again, French lawmakers are acting on the conviction that they know better than market participants. Apart from promises to reduce employment regulation, all of the new measures boil down to officials directing state money and subsidies to companies and projects of their choosing. So the death rattle of the French economic model continues. What remains to be seen is how the end will come. And, whether it comes in the form of a capital strike by foreign bondholders, or of domestic labor strikes and wider social and political unrest, France’s leaders remain entirely unprepared for the inevitable.

Read Full Article ››

TAGGED: Francois Hollande, Eurozone, Europe, France

RECOMMENDED ARTICLES

December 12, 2012
France's Socialists More Bark than Bite
Chris Caldwell, Weekly Standard
Ever since France’s Socialist president François Hollande arrived on the world stage, he has faced questions from his party rank-and-file. Is he radical enough to stand up for the left, as his rhetoric would... more ››
December 13, 2012
France's Socialist Government Denies Reality
Romain Leick, Spiegel
In the midst of the economic crisis, France's Socialists are denying reality. The minister of industrial renewal is calling for nationalization of some industries, while the president shies away from necessary structural... more ››
December 3, 2012
Farewell to Europe
Clyde Prestowitz, Foreign Policy
Through all the vicissitudes of mid-night negotiations, I admired the dedication and vision of the negotiators who were building the European Union. I believed in the vision of a united Europe and welcomed the advent of the Euro... more ››
December 3, 2012
France Joins the Stealth Drone Club
John Reed, Killer Apps
Happy Monday. To kick this week off we thought we'd bring you these pictures showing that France has become the second nation in the world to (publicly) fly a stealth UAV. These images show Dassault's nEUROn (yes, it's really... more ››
December 6, 2012
A Big Idea to Juice Europe, U.S. Economies
David Ignatius, Wash Post
Europeans seem relieved that Barack Obama won re-election. (One German official wrote in an informal paper that his victory was "the best thing that could have happened to the U.S.") But Europeans remain worried that the Obama... more ››