The French Endgame about Labor Reforms: Europe’s Summer of Discontent

The French Endgame about Labor Reforms: Europe’s Summer of Discontent

photo: Tim Lam French government wants structural reforms, but unions and most people don’t. As political friction is escalating, Paris is preparing for the Euro 2016 football tournament, which is attracting terror efforts by radical right, ultra-left and the jihadists. At the same time, the country has been pummeled by ‘once-in-a-century’ flooding. As long as the […]

The Thermidor: Push Back Against Germany

European officials found a compromise between those wanting to allow the ESM to recapitalize banks directly, until the bank financed resolution funds has adequate resources, and those that who were opposed.  German opposition was most vocal and the compromise was to allow the German parliament veto power over any direct aid from the ESM. Others may […]

When Iran Negotiations Aren’t About Iran

By the Editors of OilPrice.com Premium: Bottom Line: What is important to understand about negotiations with Iran over its nuclear program is that is has less to do with nuclear issues than it does with the back-room diplomatic dance that has Israel, Saudi Arabia and France doing everything in their power to derail Washington’s plans. Analysis: The […]

French Politics and Economics: Le Pen’s National Front Back on the Scene

Understandably overshadowed by the political melodrama in the US, a second round of a local election in France (Brignoles) resulted in a victory by Le Pen’s National Front.  The Socialist candidate had been summarily defeated in the first found and the Le Pen candidate thumped the UMP candidate 54%-46%.  The Socialists have been weakened by the […]

The Decline of Southern Europe

“Europe is back!” is the new, though cautious, market mantra. Certainly, Europe will ultimately recover, but it will be a different Europe. Current hopes are inflated, as evidenced by the erosion of Southern Europe. The second quarter GDP figures for the euro-area economies indicated growth, for the first time in 18 months. Some fund managers […]