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New Prime Minister of France: It All Hangs Together Or We’ll Hang Together (Warning: Biting Sarcasm) / By Hilary Barnes, Euro Politico Twitting / April 18, 2014 at 1:50PM

Manuel Valls, recently appointed Prime Minister of France, who has discreetly hinted that he hopes one day to be regarded alongside the likes of General de Gaulle as “the man who saved France” from itself, has found a new and fascinating [...]

France Prohibits Sending Work Emails, Answering Cell Phones, Outside Working Hours / Mike “Mish” Shedlock / Saturday, April 12, 2014 8:50 PM

Events in France keep getting sillier and sillier. Wasn’t these new Prime minister Manuel Valls supposed to be pro business?

So how does nonsense like this happen: France Prohibits Sending Work Emails Outside Working Hours

Via translation from La Vanguardia

Your boss [...]

Brussels Says “No” to France Proposal for Deficit Target Leniency / Mike “Mish” Shedlock / Saturday, April 05, 2014 9:07 PM

Francois Hollande’s new government is of to a shaky start.

The European Commission told Manuel Valls, Hollande’s new Prime Minister to “be more like Spain”, and impose more austerity to meet deficit targets. The irony of course is that Spain has failed at [...]

We Have Seen This Play Before / By Hugo Salinas Price / April 4, 2014

Ambrose Evans-Pritchard in “The Telegraph” (, April 2, 2014) is quite worried about deflation in the Eurozone; he says it may become entrenched, which would lead to economic disaster for Europe.

What we are seeing is a repeat performance, on the world stage, of a [...]

France Seeks Forbearance / By Marc Chandler / March 1, 2014

French President Hollande, fresh from a stunning defeat in local elections is signaling that he will once seek the EC (and Germany’s) forbearance to relax the fiscal rules yet again for the euro zone’s second largest economy.

Yesterday INSEE reported that France’s 2013 budget deficit [...]

France Criticizes European Commission as “Totally Useless”, Wants More Time on Budget Deficits / Mike “Mish” Shedlock / Tuesday, April 01, 2014 12:11 PM

The latest numbers from Insee, the national statistics institute show France missed its deficit target of 4.2% in 2013 by 0.1 percentage points. Public spending is also up. Spending now amounts to over 57% of GDP with debt reaching 93.5% of GDP.


This Disaster Signal Has Only Been Triggered 3 Times In History / April 1, 2014

Today one of the legends in the business expressed concern that an ominous danger signal has been triggered for only the 3rd time in history. The is very troubling according to 50-year veteran Art Cashin, who is Director of Floor Operations at UBS ($650 billion under management). Cashin also included [...]

France Is Not Sick – Europe Is / By Staff Report / March 27, 2014

France is the ‘sick man of Europe’ … It’s France’s turn to be the “sick man of Europe,” a competition that no country wants to win. The phrase seems to have originated with Tsar Nicholas I of Russia, who wrote it in reference to the Ottoman [...]

France Becoming Increasingly Euroskeptic: Poll Shows 52% of Workers Want to Leave the Euro, Only 34% of Workers Believe EU is a Good Thing / Mike “Mish” Shedlock / Saturday, March 01, 2014 4:45 PM

The following bullet points are from the French Ipos Poll: New French fractures, results and analysis of the Ipsos/Steria.

Although a huge majority of French want to stay on the Euro, a majority of “workers” don’t.

Poll Conclusions

79% distrust the outside world [...]

21/2/2014: Homeownership, Negative Equity, Entrepreneurship: Data from France / Dr. Constantin Gurdgiev / Friday, February 21, 2014

Over recent years I wrote extensively about the issues of negative equity and the costs of this phenomena to the society and economy at large. Much of the research in this areas focuses on the US data, with some departures for German and Italian data [...]

Is Chicago Mayor Rahm Emanuel a Friend of Taxpayers or Businesses? Or is Chicago Like France? / Mike “Mish” Shedlock / Tuesday, February 18, 2014 9:13 PM

Inquiring minds just may be wondering “Is Chicago Mayor Rahm Emanuel a Friend of Taxpayers or Businesses?”

In case you are wondering, please consider what Illinois Policy Institute writer Jacob Huebert says via email.

Chicago Mayor Rahm Emanuel recently proposed an [...]

No Crisis? France’s Private Sector In Deeper Trouble Than In 2009 / By Wolf Richter / FEBRUARY 13, 2014 AT 12:15AM

Maybe it worked. He needs all the help he can get: when French President François Hollande was paraded around Washington D.C. by President Obama, the French government-owned TV channel France 2 described the two as exhibiting, or at least trying to exhibit, “harmony.” Then [...]

ECB Structural Faults & Switzerland Bail-Out of Banks / by Martin Armstrong / February 11, 2014

QUESTION: I’m not clear about the purpose of the ECB. Each member country goes to the international capital market and gets a different cost for its bond issuance based on its credit worthiness and other factors. If the ECB’s role is to redistribute the debt loads [...]

Greece Is Back: Germany, France, Creditors Hold Secret Meeting Due To Greek Bailout “Mounting Concerns” / by Tyler Durden / 01/31/2014 10:43 -0500

There was a time – roughly between May 2010 and the spring fall of 2011 – when all the world had to worry about was Greece. Then the realization finally dawned that since a Grexit from the Eurozone would kill the EUR and theEuropean integration [...]

Foreign Investment In France Crashes 77% In 2013 (Most On Record) To 26 Year Lows / by Tyler Durden on 01/30/2014 15:04 -0500

When your manufacturing industry unions kidnap their business leaders, taxes reach extremes of duress, industrial production limps lower and unemployment hits record highs; it is hardly surprising that the world is a little nervous of piling its hard-printed cash into your country. But in the [...]

France Unemployment Hits New Record High; Hollande’s November Pledge Reviewed / Mike “Mish” Shedlock / Monday, January 27, 2014 4:40 PM

In November, French president Francois Hollande announced he had met his electoral pledge to halt the rise in joblessness by the end of 2013.

No one with any economic sense believed it.

Today in the face of a new record high unemployment [...]

Eurozone PMI Strengthens, Except France; Germany-France Yield Spread Widens; Where to From Here? / Mike “Mish” Shedlock / Thursday, January 23, 2014 1:35 PM

The Eurozone composite PMI hit its highest since June 2011, but it did so with France still in contraction as noted by the Markit Flash Eurozone PMI.

The euro area private sector economy grew for a seventh consecutive month in January, [...]

Is Germany’s gold in France as impaired as its gold at the New York Fed? / Chris Powell / Sunday, January 19, 2014

Today’s fuss about the German Bundesbank’s repatriation over the last year of only 5 of the 300 tonnes of its gold that it planned to repatriate from the Federal Reserve Bank of New York should include a fuss about the Bundesbank’s similarly pitiful repatriation of [...]

Striking French Cab Drivers Attack Uber Cars, Demand Government “See Things Their Way” / by Tyler Durden on 01/14/2014 14:01 -0500

Poor Uber: the limo company has had its share of tribulations in the US over the past month, being accused periodically of price gouging when it implemented surge pricing during times of peak demand and lack of alternatives (and a very confused consumer, who naturally [...]

France Collective Depression; Growing Demand for Protection from Immigrants; Only 35% Think EU is Good for France / By Mike “Mish” Shedlock/ January 13, 2014 8:49 PM

Les Echos reports “the distrust of politics has never been so high in France. This is one of the great lessons of the latest CEVIPOF annual poll“.

Distrust of politics is extremely high everywhere, but at least the US is not in a depression.


France Praying for Miraculous Metamorphosis / By Pater Tenebrarum / January 13, 2014

Nothing Left to Lose?

In a recent article at Reuters, the hope was expressed that the approval rating of France’s president Francois Hollande (lately renamed ‘LOL-lande’ in the French press and ‘Niemandshand’ in the Dutch press for reasons explained further below) has by [...]

The Most Despised Tax-And-Retreat French President Has ANOTHER Plan / By Wolf Richter / JANUARY 6, 2014 AT 12:41PM

When you come to the end of your bumpy road, veer to the right.

French President François Hollande is only a year and a half into his five-year term, and already he has become the most despised president of France. He’s presiding over [...]

Angry French Union Workers Take Two Bosses Hostage / by Tyler Durden on 01/06/2014 17:31 -0500

Workers at a tire plant in Northern France have taken two managers hostage until Goodyear (the firm that owns the plant and has been trying to shutter it for years) meets the mabor unions demands. WSJ reports, as Goodyear winds down operations with the plant [...]

Eurozone Manufacturing Expands Except in France and Greece; Hollande Concedes Taxes ‘Too Heavy’ Offending Everyone / Mike “Mish” Shedlock / Thursday, January 02, 2014 2:47 PM

Eurozone manufacturing is at a 31-month high according to Markit. Every country but France and Greece are expanding. French manufacturing is at a seven-month low in an intensified downturn.

The seasonally adjusted Markit Eurozone Manufacturing PMI® rose for the third month running [...]

France in Review: Perfect Track Record of Economic Ineptitude / By Mike “Mish” Shedlock / December 31, 2013 3:09 AM

In 2013 France stood out as the perfect model of economic ineptitude. It’s very difficult to be perfect at anything, even failure. France managed. Here are some headlines.

December 19, 2013: 50 Foreign Companies Operating in France Sound the Alarm December 16, [...]

Formula 1 Ace Fights For His Life After Skiing Accident / Chris Carrington / December 30th, 2013

Michael Shumacher, seven time Formula 1 World Champion, is fighting for his life after suffering a head injury in a skiing accident in France.

He is in a critical condition, in a drug induced coma, at the University Hospital Center of Grenoble. Doctors say [...]

New World Order – Collapsing Economy / by Martin Armstrong / December 29, 2013

QUESTION: You do not believe in the New Work Order and the bankers orchestrating the collapse of the economy?


ANSWER: Sorry no. The banks are in serious retreat. They have been caught manipulating various markets for short-term gains. They have to abandon commodity trading and [...]

New Law in France: Limos Must Wait 15 Minutes Minimum Before Picking Up Rides / Mike “Mish” Shedlock / Sunday, December 29, 2013 12:51 PM

Want to arrange a limo in France to take you to the airport or go on a private tour? Thanks to a new law in France, you have to wait a minimum of 15 minutes except at 4 or 5 star hotels.


France Seeks Another Tax on Facebook, Google And YouTube, to Finance “French Culture” Cinema / By Mike “Mish” Shedlock / Saturday, December 28, 2013 2:12 PM

The economic stupidity in France is astounding. It’s hard keeping up with all the inane ideas of President Francois Hollande’s socialist administration. Here’s another one of Hollande’s ideas for your amusement.

RT reports French broadcasting watchdog CSA eager to tax YouTube, [...]

France Wants To Tax YouTube And Facebook Videos / by Tyler Durden on 12/27/2013 15:02 -0500

In order to finance the “culture industries’ digital transition,” France’s Culture Ministry believes Facebook and YouTube should be included in the so-called “Culture Tax” that movie theaters and broadcasters currently pay. The argument is that these sites have become “professional” content providers of video-on-demand serives. [...]