President Francois Hollande Announced the Dissolution of the French Government: A Political “Croque-Monsieur”… or “Quick Fix”!
I presume that many of you have been to France, especially Paris, where if you were in a hurry to get a ‘quick bite’, you would have ordered what the French call a ‘Croque Monsieur’. Unlike the “Big Mac” which is primarily constructed on the foundations of discarded flesh parcels, often identified as “hamburger”, the Croque Monsieur is made of grilled cheese and ham. Usually the most common form of cheese is “Gruyere” or “Emmental”.
Why so much attention to such a minute subject like the French sandwich? I have chosen the ‘Croque Monsieur’ to represent several different financial, political and cultural factors in the French Socialist System.
One simple statement from the Arnaud Montebourg, the French Minister of Economy forced Hollande to fire him and the rest of his government. I am sure you would love to know what the sentence was that caused such a stir…and here it is “France is the eurozone’s second-biggest economy, the world’s fifth-greatest power, and it does not intend to align itself with excessive obsessions of Germany’s conservatives” [ thank George Friedman of Stratfor, August 25, 2014 for that quote].
Like the Croque-Monsieur this sentence seemed pretty basic. France would not accept the diktats of Germany’s financial auditors. However, this sentence was the ‘shot heard around the EU’ [sorry for the mixed metaphor]; wherein France is really expressing its basic discontent, discomfort and mistrust of the Germans. Clearly, this confrontational attitude is not new to France nor to Germany. In this particular case, what the French Finance Minister basically stated was that France is in serious economic trouble and cannot comply with the more ‘conservative’ [read ‘rational’] demands of the Frankfurt Central Bank for France to reign in it’s spending and eventually dissolve it’s socialist structure of government.
For us greedy Capitalists on this side of the ocean, we are not really surprised that Germany has been carrying France and the rest of ‘dead beat nations’ of Europe, including Italy, Spain, Portugal for a very long time and really has no further desire to continue to be the ‘economic engine’ of Europe. One year ago, I mentioned in one of my blogs that Angela Merkel had warned the EU that it could not and would not maintain a minimum growth rate that could support the rest of the EU. She clearly stated that Germany’s 2-5 % growth would slow down considerably.
Now the future has become the present. The French Government has a hard time coming to terms with the reality of its failed Socialist Economy where taxes are prohibitive and earnings are standardized for all workers. Let us not forget that any entrepreneurial company has very limited ability to fire inept or lazy workers because of the restrictive French Labor Laws.
What is left for France?
Very little, in fact.
France should emulate the now defunct Italian state and declare itself as a “failed state converted to a national museum”—to be visited by tourists and food connoisseurs who like it’s cheeses and wines… and fois de gras! From an economic point of view, I humbly attest to three important French contributions which may be exported:
Nuclear plants; bottled water [maybe even Yogurt]; and rail road trains and engines.
That’s about it.
As for the French youth who have graduated from the elite French training academies, I suggest that the USA make a concerted effort to recruit these talented individuals to come to the USA and become valued citizens. They are perhaps the most efficient and most valued high frequency traders on Wall Street. In terms of electronics, mathematics and engineering, the French elite stand out and should have a place in the USA.
As for the Airbus, I loved being a passenger on it [Lufthansa 380 Airbus, cheaper than Air France] but as a viable commercial airline, I don’t think it can ever compete effectively against the Boeing 777 or 787, which is more economical and less burdensome to maintain and clear at the airport gates.
What we have left in France is the Croque Monsieur which is extremely filling if you are not eager to eat a full course meal….. and, you are in a hurry. I am afraid that France better wake up and realize that it is in the process of becoming a major failed European State!!! Socialism was an interesting concept on paper, but it really had no basis in reality. Man’s greed will always dominate his increasing appetites for more and more. Unfortunately, France offers less and less.
C’est Dommage!! It’s a pity.
Tant Pis! Too bad!!!