Politics, politics, politics (so long and thanks for all the fish)

[Silly McSilly Face]

It's interesting...i wonder how much of their woes are down to not having access to cheap and very profitable resources from the Sahel , such as Uranium from Burkina Faso....

Its just a particularly magnified version of what's gone on in most large, advanced European economies:
1) borrowed huge amounts to refloat the economy in the wake of the financial crash in 2008.
2) euro membership meant they couldn't independently manage their own public debt downwards sparking the eurozone crisis and ongoing flat economic growth.
3) austerity measures imposed by the ECB degraded living standards and public services over the remainder of the 2010s.
4) Just aa they had recovered their fiscal position Covid hit plunging the country back to 2010 economic positions in terms of debt and budger deficit but with the added killer of rising inflation as the economy opened back up.
5) Russian war in Ukraine and western sanctions sparked a wholesale energy market crisis that is still going on creating inflationary pressures that are unprecedented since WW2.
6) October 7 sparked another middle east crisis with Iran backed attacks on global shipping adding to the huge inflationery pressures.
7) The French government are faced with the fiscal and economic need to impose austetity measures once again to manage debt while also increasing taxes and trying to hit people in their pockets to manage inflation. However the public are exhausted after 2 decades of hardship and there is no political concensus as to how to deal with it all. The backdrop of febrile bond markets threatening to Liz Truss the French econony at the whiff of any economic mismanagement and a parliament where no political party has a majority has created a paralysis and seemingly a death cycle they are unable to get out of.
8) Its almost comical now that Macron appoints a new PM, who toddles off to work with the economists and treasurers to come up with an economic plan that is necessary only for it to be rejected by Parliament and then they resign. Then the next guy brings the same plan back with the same results. The only way out is another election to attempt to break the deadlock but with the National Front extremely popular and the only way of stopping them tactical voting it is quite likely another election would end up in a 3-way hung parliament again.

 

[glasgowspur]

Its just a particularly magnified version of what's gone on in most large, advanced European economies:
1) borrowed huge amounts to refloat the economy in the wake of the financial crash in 2008.
2) euro membership meant they couldn't independently manage their own public debt downwards sparking the eurozone crisis and ongoing flat economic growth.
3) austerity measures imposed by the ECB degraded living standards and public services over the remainder of the 2010s.
4) Just aa they had recovered their fiscal position Covid hit plunging the country back to 2010 economic positions in terms of debt and budger deficit but with the added killer of rising inflation as the economy opened back up.
5) Russian war in Ukraine and western sanctions sparked a wholesale energy market crisis that is still going on creating inflationary pressures that are unprecedented since WW2.
6) October 7 sparked another middle east crisis with Iran backed attacks on global shipping adding to the huge inflationery pressures.
7) The French government are faced with the fiscal and economic need to impose austetity measures once again to manage debt while also increasing taxes and trying to hit people in their pockets to manage inflation. However the public are exhausted after 2 decades of hardship and there is no political concensus as to how to deal with it all. The backdrop of febrile bond markets threatening to Liz Truss the French econony at the whiff of any economic mismanagement and a parliament where no political party has a majority has created a paralysis and seemingly a death cycle they are unable to get out of.
8) Its almost comical now that Macron appoints a new PM, who toddles off to work with the economists and treasurers to come up with an economic plan that is necessary only for it to be rejected by Parliament and then they resign. Then the next guy brings the same plan back with the same results. The only way out is another election to attempt to break the deadlock but with the National Front extremely popular and the only way of stopping them tactical voting it is quite likely another election would end up in a 3-way hung parliament again.

And the longer it goes on the less popular the centre parties become and the more the voters will move towards the national front.

 

[Gutter Boy]

The just need to give Melenchon the job and try something a bit less neo-lib. Macron just wont make him PM, as he knows it will be a bridge to him becoming President in 2027

 

[Silly McSilly Face]

The just need to give Melenchon the job and try something a bit less neo-lib. Macron just wont make him PM, as he knows it will be a bridge to him becoming President in 2027

France can't try something a bit less neo-lib. Government's are waking up to the fact that when you borrow a sh*t tonne of money the people you are immediately answerable and beholden to are international investors NOT the electorate. Something Liz Truss painfully discovered. They can and will tank your economy, and the value of your citizen's pensions if they don't like what you're doing.

 

[LutonSpurs]

Macron has to choose between fascists and socialists and he is trying to do neither.