Greece: Of paupers and taxes | 143 comments (143 topical, 0 editorial, 0 hidden)

Re: Isn't it rather obvious (4.00 / 2)

I don't feel that the current French government is so keen on running Greece into the ground and if France were calling the shots Greece would be in far better shape. Hollande seems to feel powerless against Merkel; I think he could get a lot more from her if he fought harder.

Hey, Grandma Moses started late!

by LEP on Sun Feb 17th, 2013 at 08:04:01 AM EST
[ Parent ]

Re: Isn't it rather obvious (none / 1)

Hollande also wants to appear "fiscally responsible" and his government was committed to destroying the solvency of the French private sector. Now that they have plunged France into a recession they regret they won't be able to meet the 3% deficit target this year, but they remain committed to the longer term targets.

I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS

by Carrie (migeru at eurotrib dot com) on Sun Feb 17th, 2013 at 09:47:49 AM EST
[ Parent ]

Re: Isn't it rather obvious (none / 0)

Migeru:

his government was committed to destroying the solvency of the French private sector.

Why do you say that?

Migeru:

Now that they have plunged France into a recession

France has been in recession for a lot longer than the last eight monts.

Hey, Grandma Moses started late!

by LEP on Sun Feb 17th, 2013 at 10:04:51 AM EST
[ Parent ]

Re: Isn't it rather obvious (none / 0)

I should have said that France has been flirting with recession for a lot longer than the last eight months.

Hey, Grandma Moses started late!

by LEP on Sun Feb 17th, 2013 at 10:22:53 AM EST
[ Parent ]

Re: Isn't it rather obvious (4.00 / 2)

Sarkozy's conservatives flirting with recessionary policies was par for the course, them being conservatives. Hollande has been a disappointment. Predictable, but a disappointment.

I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS

by Carrie (migeru at eurotrib dot com) on Sun Feb 17th, 2013 at 10:34:43 AM EST
[ Parent ]

Re: Isn't it rather obvious (4.00 / 4)

Migeru:
[Hollande']s government was committed to destroying the solvency of the French private sector.
Why do you say that?

I believe you may have been off the blog last August, when I wrote The Eurozone's giant sucking sound

Take, for example, France:

If France were to bring its Government deficit below 3%, it would destroy the ability of the French private sector to net-save, assuming the current account deficit stays on trend (and it should: Germany's 6% current account surplus is as stable as if it were a successful policy target, and the Eurozone's neutral current account balance is consistent with the ECB pursuing a non-interventionistic foreign reserve policy).

Six months later, Ayrault has conceded the "unexpected" recession prevents him from meeting the 3% target.

I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS

by Carrie (migeru at eurotrib dot com) on Sun Feb 17th, 2013 at 10:47:12 AM EST
[ Parent ]

Greece: Of paupers and taxes | 143 comments (143 topical, 0 editorial, 0 hidden)

Top Diaries

Energy (and Other) Events Monthly - October 2023

Ireland 13 South Africa 8

UNGA: West Censors the South and East

EU VDL State of the Union -- Managing Decay

Rugby World Cup 2023 Week 1 review

Reactionary Visions and eNtiTiES

Recent Diaries

Energy (and Other) Events Monthly - October 2023

UA Laboratory NATO First Space War

United Nations In Stalemate Position

Biden's Headache in Middle East: Israel

EU as Client State of Joe's America

Canada's Trudeau Honoring an Ukrainian Nazi Collaborator

Ireland 13 South Africa 8

UNGA: West Censors the South and East

A Tale by Benjamin Franklin

Fail in Democracy Return to Authoritarianism

Yemen From Ceasefire to Peace Talks?

Huge Cost Proxy War of Choice

EU VDL State of the Union -- Managing Decay

Reactionary Visions and eNtiTiES

Top Military War Planning Under Joe Biden - Ukraine

Rugby World Cup 2023 Week 1 review

Joe's Fuck the EU -- Showdown

Modi G20 One Earth, One Family, One Future

Conflict In Syria's Deir Ezzor Province

September 2023

Occasional Series