Paris rejects 'Obama-style' stimulus program - Mercedes-Benz Forum

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post #1 of 16 (permalink) Old 02-02-2009, 09:31 PM Thread Starter
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Paris rejects 'Obama-style' stimulus program

LYON: Prime Minister François Fillon on Monday rejected demands that the French government seek to stimulate consumer spending, rather than follow his plan to stimulate corporate and infrastructure investment, to lift France out of its economic slump.

"It would be irresponsible to chose another policy, which would increase our country's indebtedness without having more infrastructure and increased competitiveness in the end," Fillon said in a speech in Lyon.

More than 1.1 million people took to the streets across France last Thursday, according to the Interior Ministry, with unions putting the number of protesters at 2.5 million, to call on President Nicolas Sarkozy to stop cutting government jobs, increase the minimum wage and spend more on households as the economy enters its first recession since 1993.

Opponents of the government have been calling for an "Obama-style" stimulus plan, one that puts money directly into the pockets of working people.

French unemployment rose by about 45,000 people in December, Finance Minister Christine Lagarde said Monday, taking the jobless ranks to the highest level in about two years.

The European Commission expects France's economy to contract 1.8 percent this year, the worst performance since World War II. Lagarde said the government would revise its economic forecast to project a contraction this year.

After the strike, Sarkozy adopted a conciliatory tone, noting that the public had "legitimate concerns," and he said he would meet with union leaders in February to explain his 2009 agenda and discuss how to best carry it out.

In December, Sarkozy announced a stimulus package worth €26 billion, or $33.4 billion, over 2009 and 2010, including €11.4 billion in early state reimbursement to companies, and about €10 billion in infrastructure investment by the government, local authorities and state-controlled companies.

Fillon said Monday that Électricité de France would increase investment this year by €2.5 billion to build and renovate new power plants and its grid. GDF Suez, the natural gas and water utility, would lift investment by €200 million.

The Paris transportation authority and the national railroad would increase investment on new trains and infrastructure by €1.35 billion.

The government would spend €400 million on road building and renovation, €300 million on railroads, and €170 million on ports and river infrastructure. It would spend €731 million on universities and research centers and €620 million to renovate prisons, courts and more than 70 monuments and 50 cathedrals.

Paris rejects 'Obama-style' stimulus program - International Herald Tribune

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post #2 of 16 (permalink) Old 02-02-2009, 09:35 PM
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It's the French. Who fucking cares.

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post #3 of 16 (permalink) Old 02-02-2009, 09:39 PM
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It's the French. Who fucking cares.

JJ
Yeah, Who fucking cares about what Jayhawk think's he is just pissed that not everybody agrees with his political beliefs.
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post #4 of 16 (permalink) Old 02-02-2009, 09:43 PM Thread Starter
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Hey! Bite me bong breath!!

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post #5 of 16 (permalink) Old 02-02-2009, 10:04 PM
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Two different economic models. The United States doesn't have partial ownership in some of the largest companies here [at least not until the last few months]. France, on the other hand has a completely different system in how it deals with corporate and/or economic stimulus. Airbus is partially owned by SOGEADE which is owned by the French state. Most of the banks were Nationalized in 1982 and "partially" privatized in the late 1980s. The French state owns over 15% of Renault. There are dozens of other examples of ownership of core businesses that have partial ownership by the French.

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post #6 of 16 (permalink) Old 02-02-2009, 10:15 PM Thread Starter
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But I thought Obama was the Pied Piper of the Western World...

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post #7 of 16 (permalink) Old 02-02-2009, 10:34 PM
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It's the French. Who fucking cares.

JJ
Well, at least they go into the streets en masse and demand what they want from their government, unlike American public, which was so easily duped by Gomer W. Bush into supporting the Iraq war based on lies, and the same American public which yawns when their fundamental liberties are being taken away by Bush and Cheney, and bends over every time to get fucked even more.

Remember the "Freedom Fries" , bottles of expensive French champagne dumped down the drain, just because French would not go along supporting the Bush's phony Iraq war? What a dumb gesture this was. And the sad part is that French were absolutely right!

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post #8 of 16 (permalink) Old 02-02-2009, 11:02 PM
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Well, at least they go into the streets en masse and demand what they want from their government, unlike American public, which was so easily duped by Gomer W. Bush into supporting the Iraq war based on lies, and the same American public which yawns when their fundamental liberties are being taken away by Bush and Cheney, and bends over every time to get fucked even more.

Remember the "Freedom Fries" , bottles of expensive French champagne dumped down the drain, just because French would not go along supporting the Bush's phony Iraq war? What a dumb gesture this was. And the sad part is that French were absolutely right!
Actually the fact the French were right is one of the worst things about "it" - Bush's tenure. It gave them lots of confidence and credibility in their own back yard. Not in our best interests to be caught lying and particularly tough when we get called out by the French.

But, basically, fuck the French anyway.

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post #9 of 16 (permalink) Old 02-03-2009, 08:39 AM
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Well, at least they go into the streets en masse and demand what they want from their government
That is because one in four of non-agricultural workers are employed by either the French government or by a nationalized company.
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post #10 of 16 (permalink) Old 02-03-2009, 09:09 AM Thread Starter
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President Bush had the French eating out of his hand. The two presidents were best friends. I miss that relationship...

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