There are occasions when even the scariest of movies will push the atmosphere of dread, danger, and doom a bit too far, and leave the scenario of improbable horror and panic feeling just stupid. That moment has arrived in Nightmare On Euro Street, as people who watched Europe’s escalating crisis through their fingers in terror begin …
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France’s New Austerity Measures: Is It Too Late to Put Out the Fire?
French Prime Minister François Fillon unveiled another batch of debt-reduction measures Monday—and in so doing officially removed the word “austerity” from the blacklist of political correctness to which it had been banished. Instead Fillon rehabilitated the term as the weapon capable of preventing contagion of the euro zone …
Could an Ultimatum from Nicolas Sarkozy Resolve the European Debt Crisis?
The European debt crisis has reached its chiche moment—or what should be its chiche moment. That’s chiche, the French for “I dare you”, “I’m calling your bluff”, or even “make my day”—something often used in situations that somehow seem too formidable or fearsome to simply give in to without an audacious (albeit …
French Austerity Measures Also Cut Touted Sarkozy Reforms
As polls have persistently shown both leading candidates in France’s Socialist Party presidential primary beating conservative incumbent Nicolas Sarkozy in mock elections over the months, Elysée advisers have confidently predicted voters will again swing behind their champion en masse once he starts campaigning on his bilan—or, …
The Merkel-Sarkozy Summit: A Minimalist Affair
It says a lot about the dramatic crisis facing the euro zone when the leaders of its two biggest economies go into a highly scrutinized summit amid promises, assurances, and even a form of hype stressing that nothing much will come from it. But that’s precisely the buzz surrounding this afternoon’s Paris meeting between German …
Envious Of U.S. Debt Ceiling Conflict, France Considers One Of Its Own
Were Paul Krugman to be inhabited by the not-so-kindred soul of Ronald Reagan, the Nobel prize-winning economist and New York Times columnist might be looking towards Europe airing the disapproving lament, “Well, there you go again”. And just who would the culpable “you” up to something iffy again be? French President Nicolas …
IMF Confirms Christine Lagarde as Replacement for Dominique Strauss-Kahn
The selection of French Finance Minister Christine Lagarde to succeed disgraced compatriot Dominique Strauss-Kahn as head of the International Monetary Fund (IMF) hardly took anyone by surprise. Even before Tuesday’s IMF board meeting naming her managing director, Lagarde’s appointment had become a foregone conclusion for most …
Can French Bank Deal On Greek Debt Save The Euro?
Could the end of the Greek debt crisis be in view—and with it the pressure that has put the very future of the euro in jeopardy? That’s the hope behind a draft deal French President Nicolas Sarkozy confirmed Monday, under which France’s private banks holding some $21 billion in Greek sovereign debt would roll nearly 70% of that …