Friday, June 22, 2012

Euro by the Numbers

Don't listen to the politicians; read the numbers as added up by a hedge fund operator. They don't look good.

Ayrault II: More than Meets the Eye?

The slight post-electiion remaniement of the Ayrault government, which saw the addition of four minor ministers, all unknowns, may be of greater significance than is first apparent, at least according to Médiapart. One story is that Nicole Bricq was removed from the ecology portfolio because she got in the way of offshore drilling and offended the MEDEF and Total. Bricq has been shifted to foreign trade, ostensibly a less important post (although reducing France's current account deficit is a major priority). And Delphine Batho, who takes over as ecology minister, is said not to have gotten on with Christiane Taubira, with whom she previously had to work at the justice ministry. Frictions and rivalries are of course part of any government, but these bear watching.