French president struggles in tax crisis

By Hugh Carnegy in Paris and Robin Harding in Brussels April 8, 2013 8:48 pm

All members of France’s socialist government have been given a week to publish full details of their wealth as President François Hollande struggles to overcome a damaging scandal over a secret Swiss bank account held by his former budget minister.

In a sign of the acute sensitivity surrounding the issue, Pierre Moscovici, finance minister, signalled to Jack Lew, US Treasury secretary, that he would have to cancel a meeting they were due to hold in Paris on Tuesday……. The new US Treasury secretary is pressing European countries with healthy economies – such as Germany – to generate more demand in order to help the wider eurozone out of recession. That stance is well aligned with the position of Mr Moscovici and his government.  To Read More….

My Take - Well, the post election French kumbaya didn't last long.  The reality of socialism is that they can't keep buying off the voters without going broke.  They can't keep attacking the job creators with more taxes, regulations and class warfare attacks without destroying the economy.  What then?  I would like for everyone to pay attention to this line; "The new US Treasury secretary is pressing European countries with healthy economies – such as Germany – to generate more demand in order to help the wider eurozone out of recession." 

That seems to me to be similar to what President Hoover did at a meeting with American industrialists at the White House during the beginnings of the Great Depression when he insisted that they keep people on the payroll even if they were suffering losses because, according to Hoover, those salaries would generate demand and recover the economy.  He was wrong.  He only put companies out of business making the economic downturn worse.

The French are in for some serious internal conflict.  They act like socialists, they think like socialists and  they will suffer the consequences of socialism; any childish demonstrations demanding there be no cuts in spending not-with-standing.  Unless there is a real, concertive and massive effort on the part of European governments to abandon socialism France is doomed right along with the rest of the EU. 

What is even worse; the French, just like the rest of Western Europe, adopted suicidal multiculturalism policies, with the subsequent penetration of Islamists in Western Europe.  The end result of that is they don’t even know who they are or who they should be, and they are currently stuck with a large violent segment of their society that believes it has the right be be self-governed and attack anyone who interferes, and intend to eventually take Europe over and force everyone to convert to Islam, a sure fire solution for a return to the 14th century.  With Europe’s collapsing economy I hate to think of the violence that undoubtedly is bound to erupt in their near future.