France Archive

News recap comments

The news flow from last week was so voluminous it was nearly impossible to process. For good measure I want to start today’s commentary with a simple recap of what happened. On the negative side – · Greece called a referendum and threw bailout plans up in the air taking Greek 2yrs ...Read More

France Unveils New Budget Savings as Growth Slows

May as well call it the Sarcophagus plan. It’s all they know how to do. And again, like the carpenter said of his piece of wood, no matter how many times I cut it it’s still too short. France Unveils New Budget Savings as Growth Slows By Alexandria Sagr November 7 (Reuters) ...Read More

France injects €10.5bn in the six largest banks

[Skip to the end] If growth continues to slow down this won’t be nearly enough to cover capital yet to be lost. Also, with more slowing, the French deficit widens threatening their solvency and ability to fund: France injects €10.5bn in the six largest banks; doubts about the 2009 GDP growth forecast ...Read More

2008-06-19 EU News Highlights

[Skip to the end] Highlights Italian Unemployment Rate Rises for First Time Since 2003 Euro Central bankers think that’s a good thing for their fight against inflation. Unemployment was getting far too low for comfort. France’s Woerth Maintains Economic Growth Forecast at 1.7%-2% More than enough to warrant rate hikes. French government ...Read More

Bank of France says Fed overreacted to market decline

Interesting they would take a shot like that at the Fed. Probably concerned about Euro strength and the US gaining export share. Bank of France Says Fed Overreacted to Market Decline By Francois de Beaupuy (Bloomberg) The Bank of France said the U.S. Federal Reserve may have cut interest rates too much ...Read More

Indexing French wages

A bit of structural inflation being introduced: Sarkozy Plans to Index Civil Servants’ Salaries to Inflation by Helene Fouquet and Francois de Beaupuy (Bloomberg) French President Nicolas Sarkozy said he’d index civil servants’ salaries to inflation and make good on unpaid overtime hours to improve their purchasing power. “It’s a fact that ...Read More