Never in the history of the Fifth Republic had a French President been so low in the opinion polls. While more than 60 % of the French people had a positive opinion of the President when he was elected in May 2012, this number has not stopped decreasing since that month. Today, it has more or less stabilized around 25%, a number even Sarkozy — one of the most hated Presidents of all time —[Read More…]
Post Tagged with: "Financial Crisis"
A couple weeks ago, the New York Times published an article entitled “The Best Hope for France’s Young? Get Out”, relaying a French controversy triggered by a column published by Libération in 2012, inviting the young French to leave their country and its “gerontocracy”, to find jobs and fresh ideas elsewhere. If there is one cliché about the French that needs qualification, it is that we entertain excessive national pride. While we may be a[Read More…]
The G20 summit in Moscow February 15 and 16 brought the world’s leading developed nations together to refine targets and plans they made last summer and bring some new economic issues to the table. The G20 consists of 19 countries plus the European Union, representing about 90% of the world’s gross domestic product (GDP), about 80% of world trade, and two-thirds of the world’s population. One of the hottest topics of discussion proved to be[Read More…]
On Friday, February 1 French bank Crédit Agricole, the third largest bank in finance, confirmed that it would make a 2.68 billion euro (3.64 billion dollar) goodwill writedown of the value of its assets. Of the this, 923 million euros will come from its consumer finance sector, 852 million euros from its ownership of an Italian retail bank, 267 million euros from its 20 percent stake in Banco Espirito Santo, Portugal’s largest publicly traded bank,[Read More…]