Hollibande Leaves France on Verge of Triple Dip Recession

A year seems a long time ago for Ed and Francois’ friendship. Back then Miliband could not have been more glowing about the man whose socialist policies he vowed to replicate in Britain:

“What President Hollande is seeking to do in France and what he is seeking to do in leading the debate in Europe is find that different way forward. We are in agreement in seeking that new way that needs to be found and I think can be found.”

So how that “different way forward” that Miliband endorsed getting on? In June Hollande declared that “what you need to understand is that the crisis in Europe is over.” That may be the case in Germany, but as the rest of the Eurozone recovers France is being left behind. This week Markit’s flash index reported manufacturing and services in France are at a seven-month low. Things are so bad that Renault, the 114-year-old French car company, has moved its factories to Spain. Crucially, this morning experts are now predicting a triple dip recession.

All the while Hollande has the lowest approval rating of any French president on record. This is who Miliband chose as the politician he wanted to emulate. Protesters on the streets, tax hikes causing an exodus of entrepreneurs, the economy run into the ground while rivals prosper. We have our warning of what Prime Minister Miliband would mean right across the Channel…

See also: Le Triple Dip for Hollibande, After Merkozy, Whatever Happened to Hollibande?



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