How does a spendthrift state which consumes nearly 57 percent of its GDP change its ways? How does a regulated, highly unionised labour market become flexible? What can a modern economy do about an unemployment rate stuck stubbornly at over ten percent? And how do the French rate the Emperor Emmanuel's first ten weeks in power? The answers are obscured by the Macron miasma.
On a hot Monday afternoon in early July France's new 39-year old President summoned both houses of the national parliament (the National Assembly (directly elected) and the Senate (indirectly elected)) to the Palace of Versailles for a special address.
Versailles, you will recall, was the magnificent seat of the court of the Sun King, Louis XIV, at the very apogee of the French monarchy – a monument to monarchical autocracy frozen forever in creamy Parisian limestone. It is surrounded by a succession of formal arcaded gardens adorned with monuments which speak of the glories of France. There are few more grandiose settings on the planet.
by Evil Diaries| Evil Diaries |1 mins. to read Pantheon (LON:PANR) have issued £10m new stock at 43p. This might change PANR's prospects – the directors clearly think so. I suspect that it is time to have some. The only question is as to just when. I paid 46p this morning since I guess the loose holders should not take long to clear.
by Robert Stephens| Equities |2 mins. to read The quad play sector has thus far been a mixed bag for TMT operators. While it was seen as a means of diversifying into new product areas and generating additional sales from cross-selling opportunities, for BT (LON:BT.A) and Talktalk (LON:TALK) it has been a different story
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