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Archive for the ‘France’ Category

How do you say ‘more of the same’ in French?

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A week later and there is a lot of talk about what happened in France, as my good friend Barry Casselman wrote:   

President-elect Macron, 39, will take office next Sunday, and represents a belated Gallic version of the model of left-to-center political figures that came to power in the 1990s in the U.S. and U.K., Bill Clinton and Tony Blair. While both Mr. Clinton and Mr. Blair were quite successful with their pro-entrepreneurial, “third-way” liberal politics, their successors have moved decidedly to the left — and to political defeat.

We will see what happens in France. I understand Barry’s note about Mr. Clinton and Mr. Blair but I see some important differences:

1) Mr. Clinton inherited a growing economy and rode it for much of his presidency. Despite the low unemployment and high approvals, he couldn’t deliver Arkansas to VP Gore on election day; and,

2) Mr. Blair replaced a tired PM Major who succeeded PM Thatcher. PM Blair turned out to be a very responsible leader.

 

Mr. Macron will not be as lucky as Mr. Clinton, to say the least. He is inheriting a basket case brought to you by French socialism. This is from CNN Money:   

After years of slow growth, the country’s GDP figures are finally turning higher. 

But they remain at very low levels.

The French economy expanded by 1.2% in 2016, according to the International Monetary Fund. The two larger economies in Europe — Germany and the U.K. — posted growth of 1.8% over the same period. The IMF predicts growth of just 1.4% for France in 2017, one of the weakest rates in the EU. France is also struggling to bring down its unemployment rate, which stands at roughly 10%. That’s higher than the eurozone average and more than double the level of joblessness in Germany and Britain. The unemployment problem is even worse for young people: 24% of those between the ages of 15 and 24 don’t have a job.

Government debt, meanwhile, has ballooned to almost 90% of GDP, up from just 58% a decade ago.    

So what do you when your country is a socialist basket case? The French have voted to double down by electing a socialist! Good luck with that approach!

To be fair, France did not choose between a man of the left and a woman of the right, such as Mrs. Thatcher in 1979 UK. Too much of the election debate was about meaningless Obama-style “hope and change” and rejecting Miss Le Pen’s anti-immigration views.   

Mr. Macron now has a hard choice. He can keep the socialist dream and do nothing about those young people out of work. He can be a visionary and call for structural changes.  He may want to visit with President Trump and listen to what he is hoping to do with tax reform. France is exhibit A in the world on passing tax reform and doing something about the unsustainable welfare state.

He will be unpopular either way but the second approach will at least turn France around. It may help him get reelected down the road.

It won’t be pretty in France. Don’t leave your car outside because it’s likely to get torched!

P.S. You can listen to my show (Canto Talk), (YouTube) and follow me on Twitter.

 

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Written by scantojr

May 15, 2017 at 7:17 am

And now President Macron has to worry about jobs for the young people

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Congratulations to President elect Macron.    He won the presidency of France with big numbers.    He also faces big challenges, as Bret Stephens wrote this week:    

The French are desperate. Jobs are the No. 1 election concern, ahead of terrorism and the migration crisis. As of March, the unemployment rate was 10.1 percent. Youth unemployment: 23.7 percent. These figures would be shocking in the midst of a recession.

But this is France seven years into a recovery. The last time the growth rate surpassed the 3 percent mark was 17 years ago.

We wish him well.   However, don’t be surprised if he is very unpopular rather quickly.    Jobs, jobs and jobs is issue # 1 in France.    Does President elect Macron have any ideas to revitalized the French economy?    I don’t hear them.

P.S. You can listen to my show (Canto Talk), (YouTube) and follow me on Twitter.

Written by scantojr

May 7, 2017 at 1:31 pm

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Obama endorses Macron

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According to news reports, President Obama has endorsed Mr. Macron in France.     This is what we learned:   

“I have admired the campaign that Emmanuel Macron has run,” Obama says in a video, which Macron shared Thursday.

“He has stood up for liberal values, he put forward a vision for the important role that France plays in Europe and around the world. And he is committed to a better future for the French people. He appeals to people’s hopes and not their fears.”      

We will see what happens on Sunday.    

Nevertheless, is it a good idea for former US presidents to endorse candidates in other countries’ elections?  

The answer is no.    

P.S. You can listen to my show (Canto Talk), (YouTube) and follow me on Twitter.

Written by scantojr

May 4, 2017 at 5:00 pm

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A look back at the elections in France with Michael and Rosine

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Guests: Rosine Ghawji and Michael Prada join me for a look at Sunday’s election. It looks that we are headed for a second in 2 weeks………what were the issues and concerns for the French? what is in the significance of this election for Europe and the EU?………..

Click to listen:

Source: A look back at the elections in France with Michael and Rosine 04/24 by Silvio Canto Jr | News Podcasts

Written by scantojr

April 24, 2017 at 10:00 pm

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Friday’s show: Pope Francis PLUS President Obama’s delusions

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January 16, 2015 at 1:00 pm

Sorry, Pope Francis, but they can

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January 16, 2015 at 11:30 am

My new AT post about Pope Francis

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January 16, 2015 at 7:30 am