"Donnez-moi mes francs de Hollande!"
I mean "Ouieeeeeeee!!!!"
Time to put my 401K back into guaranteed funds?
What is the definition of “austerity” that the press is using?
Aren’t those countries still running massive deficits?
Maybe they can borrow their way out of debt.
How in the heck in this day and age of ecomonic devastation do idiots elect socialists, if not for their own stupidity and greed?
France is Greece.
“Don’t take my government bennies from me!”
This is a disaster for the French. Their only way out now is repudiation of debts by printing.
the problem with socialism is that eventually you run out of other people’s money
Does this Leftist believe that the Tooth Fairy is French? Angela Merkel better have the key to Germany’s treasury secured in her knickers.
He’s a socialiste, so he must tax the rich if he is to stay true to his ideology. Yes, there will be austerity, but it will be because of economic contraction from a shrinking private sector.
I don’t think that the markets have ‘priced this in’. The euro will drop and the EU will become unglued. Germans still want to save and they want a strong currency. This appears impossible now with Greece, Italy, Spain, Portugal, and now La France.
Hey BB Man I just saw CNBC world news just now Euro is trading down against Japanese Yen at this hour
"Donnez-moi mes francs de Hollande!"
Is this kinda like putting Jerry Brown in power in CA?
And so begins Mr. Hollande’s Opus.
Redistribution of misery.
This is not a good omen for France’s wellbeing.
If they repudiate their debt, they won’t be able to borrow more- and what will the French masses do then. And if they repudiate their debt to a foreign power that is willing to employ “self help” in collecting what they lent France in good faith, this could easily lead to another war.
A lot of bad stuff can happen when you try to stiff someone for billions.
I don’t think that France is going to be able to tax themselves out of this mess, regardless of how much they soak the wealthy.
“Mr Hollande’s ‘farewell to austerity’ programme, which combines taxing the rich, raising public spending and lowering the retirement age, has raised the expectations of the French electorate about the end of the ‘Merkozy’ era.”
Amazing.
At least this is going to be entertaining to watch.
And a cautionary tale for others wanting to follow suit...
expect wide spread inflation in Europe with all the rich flocking towards Switzerland, gold/silver to protect their wealth
Did anyone on earth think the Europeans were going to give up the goverment teat?
These “austerity” requirements to get more funding were jokes. Bad ones.
Early retirement from 30 hr work weeks and 40 week years. Yeah, that should work.
Pray for America