French politics: Ooops, the coffers are empty | The Economist

Schémas de l'affaire soumise au Conseil d'État

Schémas de l’affaire soumise au Conseil d’État (Photo credit: Wikipedia)

This is a good read from the Economist newspaper. Check it out!

French politics: Ooops, the coffers are empty | The Economist.

In my view, France‘s Public Sector has enormous challenges to reduce its costs but few politicians have had the stamina and stomach to take on the French unions – let’s see what happens.

Personally, I have enormous respect for the French medical system which puts the UK’s to shame.

Another bloated bureaucracy for austerity ravaged European economies to consider is, of course,  the mighty EU bureaucracy itself with gold-plated pensions, generous expenses and perks etc.

What do you think?

French politics: And they’re off | The Economist

This image shows Nicolas Sarkozy who is presid...

Image via WikipediaImage via WikipediaImage via WikipediaImage via WikipediaImage via Wikipedia

This is an interesting article. Check it out!

French politics: And they’re off | The Economist.

It will be interesting to see how French voters feel about their politicians.

For sure, Sarkozy has not delivered the reforms that he promised in the last election – he also seems bitterly unpopular with French voters.

As the Economist article points out, France has major problems with its bloated Public Sector but all the candidates seem to be ducking the issue, preferring to focus on tax increases rather than Public Sector cuts.

France is similar to Japan in some respects – both have some industries that are the envy of the World – on the other hand, they also have a number of bloated, protected and inefficient sectors, especially the Public Sector.

It’s hard to see that the financial markets will be very forgiving to a Socialist Prime Minister.

France has a long history of strikes and public protest – for sure we shall probably see the French people in the streets whoever wins.

Irrespective of which candidate wins the Presidential election, French citizens need to brace themselves for serious pain, as austerity bites. Political distractions, like Tobin taxes will not be enough, in my view.

As a final thought, the next French President may well have to brace him or her self for the following question:

Why should the rest of Europe still have to pay for inefficient French farming, by way of CAP (Common Agricultural Policy)?