The French death rattle

European Voice ^ | 21.12.2012 / 09:00 CET | Brigitte Granville

[Olog-hai]

Moody’s announcement in November that it had downgraded France’s sovereign-credit rating by one notch from its AAA rating prompted one blogger to poke fun at rating agencies’ tendency either to get things completely wrong or to suddenly recognize a crisis that had long been staring them in the face. The blogger joked: “If this recognition by a rating agency that France has problems is an example of the first failing, a recovery must have begun; if it is an example of the second failing, the country faces a dire reckoning.” …

The underlying explanation lies in the culture and prejudices of France’s governing elite, the so-called grands commis formed by the National Civil Service School of which (François) Hollande—like virtually all of his predecessors, except Nicolas Sarkozy—is an alumnus. In this cloistered world, a prosperous and just society requires a state-directed economy. This dedication to dirigisme has spawned among the ruling elite a sense of entitlement and hostility to business. Indeed, for France’s political leaders, business amounts to a zero-sum competition to capture a higher share of total value added for owners and managers, at the expense of labor. …

So the death rattle of the French economic model continues. What remains to be seen is how the end will come. …

[Impy]

Ping

[Impy]

So, there is gonna be a new UMP election next year?

[Lancey Howard]

What remains to be seen is how the end will come. …

It can't come soon enough.
The morons deserve exactly what they elected, much like America.

[98ZJ USMC]

Couldn’t. Care. Less.

[FreedomPoster]

Worthwhile to pay attention to. We will be there soon enough if we don’t change course.

[Cowboy Bob]

France is suffering a severe case of "White Man's Disease." This is where white males inexplicably destroy or give away everything their forefathers created, and apologizing all the while they do it. This disease does not afflict the female of the species (in fact, the female tends to help in the spread of the disease).

This disease is spread through the educational system. Symptoms include "metro-sexuality." There is at present no known cure for this disease...

[Caipirabob]

Moody’s announcement in November that it had downgraded France’s sovereign-credit rating by one notch from its AAA rating

Wow, any lower and France will be as bad as our rating!