François Hollande Abandons “Milibandism”

In a panicky new year message France’s President François Hollande has pledged to cut public spending, lower taxes and reduce labour costs for businesses in a bid to convince French voters that he is trying to avert le triple dip. The opposite of the policies which can be described as “Milibandism”.

It seems only yesterday that Ed was welcomed onto the steps of the Elysee Palace with a handshake from his new best comrade, saying:

milibande

“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.”

Socialist Hollande now has the lowest net approval rating ever recorded for a French President at +20%. When you are a loser no one wants to shake your hand, as this batch of photos of Hollande with world leaders shows. Well, all apart from one other socialist leader with an even worse net approval rating of -34%, Monsieur Miliband…




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Quote of the Day

The FT’s Wolfgang Munchau on the “fake maths” of economic forecasts:

“The truth is that our ability to forecast the future beyond the current quarter is limited… The curse of our time is fake maths. Think of it as fake news for numerically literate intellectuals: it is the abuse of statistics and economic models to peddle one’s own political prejudice… The fakeness of the maths lies in an exaggerated inference. Economic models have their uses, as do opinion polls. They provide information to policymakers and markets. But nobody can see through the fog of the future.”

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