A Proud Nation Ponders How to Halt Its Slow Decline
By STEVEN ERLANGER, NYT
PARIS — For decades, Europeans have agonized over the power and role of Germany — the so-called German question — given its importance to European stability and prosperity.
Today, however, Europe is talking about “the French question”: can the Socialist government of President François Hollande pull France out of its slow decline and prevent it from slipping permanently into Europe’s second tier?
At stake is whether a social democratic system that for decades prided itself on being the model for providing a stable and high standard of living for its citizens can survive the combination of globalization, an aging population and the acute fiscal shocks of recent years.
Those close to Mr. Hollande say that he is largely aware of what must be done to cut government spending and reduce regulations weighing down the economy, and is carefully gauging the political winds. But what appears to be missing is the will; France’s friends, Germany in particular, fear that Mr. Hollande may simply lack the political courage to confront his allies and make the necessary decisions.
(More here.)
PARIS — For decades, Europeans have agonized over the power and role of Germany — the so-called German question — given its importance to European stability and prosperity.
Today, however, Europe is talking about “the French question”: can the Socialist government of President François Hollande pull France out of its slow decline and prevent it from slipping permanently into Europe’s second tier?
At stake is whether a social democratic system that for decades prided itself on being the model for providing a stable and high standard of living for its citizens can survive the combination of globalization, an aging population and the acute fiscal shocks of recent years.
Those close to Mr. Hollande say that he is largely aware of what must be done to cut government spending and reduce regulations weighing down the economy, and is carefully gauging the political winds. But what appears to be missing is the will; France’s friends, Germany in particular, fear that Mr. Hollande may simply lack the political courage to confront his allies and make the necessary decisions.
(More here.)
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1 Comments:
Where are the French who scoffed at Ms. Thatcher's observation on socialism? Looks like she was correct and, we are nearing the point where the 'other people' are out of money.
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