Germany ready to dilute austerity medicine for reform-minded France | Reuters

English: Various Euro bills.

English: Various Euro bills. (Photo credit: Wikipedia)

This is an important story from Reuters. Check it out!

via Germany ready to dilute austerity medicine for reform-minded France | Reuters.

This looks like it will be the third time that France gets off from complying with agreed European fiscal targets.

In my mind, it is still debatable whether France’s Socialist Government has the stomach for the necessary reforms.

This story will be bitter news for Southern Europe, who got no concessions from Germany. Countries like Cyprus, Greece, Spain and Portugal are in deep recessions because of excessive austerity.

Is there one rule for big countries and another for small countries in the EU?


One response

  1. Dr Alf is right.
    The EU budget rules are a fig leaf which is applied unevenly and in the case of France very lightly.
    France and the French people have a history of wanting to “preserve the French way of life” and this includes not embracing change and imagining that the World owes it a living.
    Those in charge of the EU see it as a job creation and enrichment device at the expense of taxpayers but to this day they are ,apart from Germany,not in the mindset to create exports and expand Europe out of trouble.
    Always the solutions involve making speeches,coming up with plans but never delivering on any of them.
    This is astonishing given the fact that Europe is still about 4.5 trillion Euros short of where it needs to be.
    Hollande,a man concerned more with his complicated love life than anything else,is typical of this sort of thinking.
    Instead of relentlessly focusing on bringing France face to face with economic reality he motorcycles to assignations like a balding overweight teenager who has seen better days and then when questioned about what he has been doing ,becomes coy and cites privacy.
    My policy within corporate life and with builders and other suppliers who I periodically have to engage with, was to not be too concerned about people’s private lives unless it affected their performance.
    When it did they were instructed to get their act together in short order and reorder their priorities.
    If they did not respond by upping their game as a matter of urgency then they were dispatched and dismissed as soon as the law or practicality permitted.
    No-one is irreplaceable and that reality soon became clear to everyone involved.
    It was not quite” Husky management”,whereby the slowest dog in the sled team is shot and fed to the remaining Huskies but a more genteel affair involving outplacement assistance ,coaching and psychological support for those in corporate shell shock or suffering from an inability to face reality.
    Mr Hollande,who is well paid and certainly well fed is neither performing nor delivering so he and those around him need to be replaced by people who can deliver.

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