Hollibande Update: 2nd Quarter of Zero Growth in France

“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.”

Ed Miliband, 2012.

The graph below shows just how things have gone en France in the two years that followed. Growth has stagnated at zero for a second quarter, Hollande’s government has slashed its growth forecasts, and has admitted it will miss its target for cutting the deficit.

Allister Heath is worth reading in the Telegraph today:

“It is hard to exaggerate the trouble that Francois Hollande, France’s president, now finds himself in. It is not just that his popularity has collapsed and that his misguided stewardship of the French economy has crippled his country, helping to deliver a second consecutive quarter of zero growth.

The real problem is that France is slowly but surely emerging as the eurozone’s weakest link… There was a time when economists thought that Greece, Spain or even Portugal would trigger the real, final eurozone crisis that would threaten the single currency and potentially lead to the unravelling of the entire bloc. Increasingly, it feels as if it will be France that will eventually emerge as the euro’s biggest threat, though of course the whole rotten structure is likely to stumble on for years to come.”

What was that about “the choice“?




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Dominic Cummings tells Damian Collins:

“You talk of ‘contempt of Parliament’. You seem unaware that most of the country feels contempt for Parliament and this contempt is growing.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Anti-Brexit ‘Renew’ Flops Anti-Brexit ‘Renew’ Flops
Robbins Hits Back at Brussels Robbins Hits Back at Brussels
Kremlin Pranksters Fail With Boris Kremlin Pranksters Fail With Boris
Corbynista Back Room Shakeup Corbynista Back Room Shakeup
Labour Live Causing Seizures Labour Live Causing Seizures
7 Cummings Truth Bullets For Brexiter Tory MPs 7 Cummings Truth Bullets For Brexiter Tory MPs
Gallery Guido’s PMQs Sketch Gallery Guido’s PMQs Sketch
Watch: Jon Craig Duped By Daily Mash Watch: Jon Craig Duped By Daily Mash
Boris Tells May: Get On With It Boris Tells May: Get On With It
German Firms Back Brexit Britain German Firms Back Brexit Britain
Zarb Referred to Disputes Panel Zarb Referred to Disputes Panel
Kate Osamor Plagiarised Maiden Speech Kate Osamor Plagiarised Maiden Speech
Ken: Seumas Wrote My Tweets and Never Told Me to Stop Talking About Hitler Ken: Seumas Wrote My Tweets and Never Told Me to Stop Talking About Hitler
Young Voters Now Prefer May to Corbyn Young Voters Now Prefer May to Corbyn
Ruth and Gove Blast “Dour” Tories Ruth and Gove Blast “Dour” Tories
Ken Resigns from Labour Ken Resigns from Labour
New Tory Treasurer is Director of 7 Companies With Overdue Accounts New Tory Treasurer is Director of 7 Companies With Overdue Accounts
All-Remain Peston Show “Kerfuffle” All-Remain Peston Show “Kerfuffle”
Top Tory’s Firm Implicated in Russian Dirty Money Report Top Tory’s Firm Implicated in Russian Dirty Money Report