November 2, 2012
THEY'VE BEEN ON THE SAME TRAJECTORY SINCE THEY DEPOSED THE KING...:
French Socialists, Under Fire, Display a Lack of Fraternité (STEVEN ERLANGER, 10/31/12, NY Times)
The main business lobby, Medef, has warned of more bankruptcies and layoffs, while an association of the top French companies, the Association Française des Entreprises Privées, called for a 30 billion euro, or $38.8 billion, cut in public welfare fees paid by employers over the next two years to try to reduce the weight of taxes and promote competitiveness. The group also called on the government to cut spending by $77.7 billion over five years, warning that France could no longer afford to have the state producing 56 percent of G.D.P.The complaints come as a much-heralded report due next week on how to improve French competitiveness -- commissioned by Mr. Hollande in July from Louis Gallois, the former head of the European Aeronautic Defense and Space Company -- is being played down by the government. Mr. Gallois and Medef want "a competitiveness shock," in which some social welfare fees now paid by companies would be transferred to the general budget or covered by other taxes.But Mr. Hollande, who was criticized during the campaign as being indecisive and vague, said that a shock was a bad idea, and that he preferred a gradual "competitiveness trajectory."
...into the ash heap.Posted by Orrin Judd at November 2, 2012 7:22 PM