EXAM RESULTS IN BRITAIN AND FRANCE ARE RIDICULOUS !!!

In both France and Britain, two countries I know well, the exam results of school leavers have regularly improved.

All the Ministers of Education have congratulted themselves on the levels achieved by Schools and the teachers !!!

It has got to the point where, if a school leaver does not "pass" comendably, with whatever "low" grades available, he really must have had a special excuse !!!

Over the years getting to university has become more easy.  Staying at university and achieving a commendable degree has escaped more than a few students.

Governments are partly to blame because a student cannot be classified as "workless" !!!  To avoid  increased "unemployed" statistics, governments do not prevent "hopeless" students going to Universities.

In fact, Government money to encourage the young, at an early age (14 perhaps) to become "apprentices", to learn a manual trade, could redivert money from useless education to something more practical.  Doing a manual trade is not "failure" !!!   Failing at university level is not an achievement !!!

It would seem that Ministers of Education have lost the plot !!! 

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FRANCOIS HOLLANDE: LE NAÏF AUX 60 PROMESSES?

Il l'avait promis pendant sa campagne: "le changement, c'est pour maintenant"!

Quatre mois plus tard, il nous l'assure "le redressement, c'est pour 2014!"

Le 9 septembre, le Président Hollande s'est longuement exprimé sur la taxe "temporaire " à 75% sur les revenus supérieurs à 1 million d'euros et qui concernera entre 2000 et 3000 personnes...Un vrai symbole pour la gauche !!!

En revanche, le Président est resté flou sur les hausses de la CSG et sur l'institution de "prélèvements écologiques".  Il nous faudra donc encore attendre.

 

DML

MARIO DRAGHI SOLUTIONS LACK CREDIBILITY !!!

This blog does not have the benefit of insider information concerning the propositions of Mario Draghi, aimed at solving the current "refinancing difficulties" of certain EURO countries !!!

What Draghi proposes is purely "financial" !!!  It does not at all, touch on the "economic" problems of EURO countries, to be clear,  Greece, Ireland, Portugal, Spain and above all Italy !!!

A "glib" answer would be to say that economic problems are covered by the "TREATY ON STABILITY, COORDINATION AND GOVERNANCE IN THE ECONOMIC  AND MONETARY UNION" ("Euro Treaty" to be short).  

The glib reply is that Draghi has a good solution, "short term" but which long term solves nothing on the economic front for the EUROZONE !!!  What will happen if the Economic depression in Europe (Eurozone) continues for another 5 years ? 

Italy, Spain and Greece will patiently wait for what "help" is available.  The " Draghi help" will solve none of the basic economic ills of any of these countries !!!

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MARIO DRAGHI PROPOSITIONS NEED TO BE VERIFIED !!!

The latest propositions by Mario Draghi are very seductive, they seem to be the perfect answer to all the financing problems in the "EUROZONE" !!!

The effect of embarking on a policy of buying "repayable short-term national debt" to prevent spiraling interest rates is a good idea.  However, what are the limits to such a policy ?

Does it only concern Spain and Greece and perhaps Italy ?  What about Portugal, Ireland and later others ?

Furthermore, as President of the EUROPEAN CENTRAL BANK will he guarantee that there be publications, monthly, of the Bank's Balance Sheet ?  Germany in particular will want to be clearly informed if their obligations are to be in any way extended !!!

Legal Balance Sheets in fact are not too much of a problem.  Many "dangerous conditions" are hidden in the footnotes of the Balance Sheet !!!  In the current circumstances of the EU or "EUROZONE", these hidden conditions must be evalued, country by country, to show the extent of any possible risks !!!

This could be a revealing fact which could determine the ultimate limitation of what Mario Draghi is now proposing !!!  It could also sway the way countries which are not yet in the EUROZONE, will decide their future !!!

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HESITATION IN THE "EUROZONE" !!!

There are in fact two groups of interested parties in the "Eurozone" who are hesitating about the future !!!

First of all, Merkel and Mario Draghi are unsure how far they can go to "calm" the problems in the "Eurozone", or to be more blunt, how to save the EURO !!!  Draghi wants, or proposes, to buy unlimited amounts of Bonds issued by "embattled" countries such as Spain, and why not later Italy ?  Finally, will this really solve all the problems more than temporarily ?

Merkel wonders if she has the authority of the Constitutional Court in Karlsruhe ?  When Germany must accept or "subscribe" Merkel cannot really move unless she is authorized !!!  This is normal as her party in Germany does not have the majority.

Secondly, there is growing hesitation by "Non Euro" countries which are expected to adopt the EURO as their currency during the coming "years". 

There are 8 such countries but to be brief, all have indicated that they will delay their adoption of the Euro for the time being !!!  Simply said, they are watching closely developements in the "Eurozone".

There are currently many "contacts" and discussions among those for or against the "EURO".  These conversations are secret and never reported in the press !!! 

Finally, is the big problem not also the question whether the "Treaty on Stability" in the monetary Union should be changed or modified in view of recent developements ?

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PRESIDENT HOLLANDE IS NORMAL BUT UNDECIDED !!!

The whole of France is closely watching every step of François Hollande to decipher what he intends to do !!!

During his election campaign Hollande crucified President Sarkozy because he did not deliver on his promises after his election in 2007 !!!  In fact months after his election Sarkozy was faced with the Euro crisis.

President Hollande made "60 election promises" and now is expected to deliver !!!  Of course he inherited a "rotten situation", and at a time when the EURO was still the major problem in Europe !!!  This he knew in advance but he declared that he was a "normal" President !!!

Alas, what the French were hoping for was "an exceptional" President !!!  Someone who would take the bull by the horns and who would lead by his example:  someone who would activate decisively !!!

This is not what French electors have seen.  He wants to introduce measures which correspond with his election promises, but these are slow coming and few.

For example, Holland promised to contol the price of petrol !!!  What he has done reduces prices by six centimes a litre !!!  To be precise, if you fill your tank with 40 litres you save 2 euros 40 !!!  Motorists are more than disappointed !!!

He has of course taken steps to tax the rich !!!  This is very popular, only creates more poor and dampens individual initiatives !!!

The reality is that Hollande has never held a ministerial post !!!  He was secretary of the French Socialist party for 11 years until 2008, when Martine Aubry took over.  He became a Candidate for the Socialist Presidential run-off in October 2011 and beat Martine Aubry !!!    

The Opinion Polls in France reveal a complete disenchantment of the electorate with what Hollande has achieved after almost four months as President !!!

The slogan of his campaign was "The Change is for now".  French electors are asking "when" is "now"  ? 

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CONSEQUENCES OF A GREEK BANKRUPTCY THIS WEEK

The long expected bankruptcy of Greece has suddenly become a "certain and frightning" reality for next weekend, 8 September 2012 !!!

The indecision of the leaders of Europe, Angela Merkel, Mario Draghi, François Hollande and the Prime Ministers of Spain and Greece, reveals a reality, which is that Germany does not want to provide more support for countries which have lost the control of their Finances !!!

The economic depression in Europe as a whole, reflected by the continued increase in unemployment, is dampening all hopes of a fast recovery.

Greece is on the edge of declaring itself bankrupt !!!  This has been expected for a long time, but the next question is "will this have a ripple effect", will Spain and Italy also follow ?

If each country leaves the EURO, what happens then ?

Greece will be the big example to follow !!!  Any Greek errors will not be followed by other countries !!! 

Greece will adopt a "New Drachma".  Any EURO assets and debts in  Greece will be devalued and expressed in "New Drachmas".  In addition Greece must devalue state liabilities like pensions.  It must also get a grip on Tax which its citizens must be made to pay !!!  But how ?

There will be turmoil very soon, strikes, lack of food and a lack of the new currency, the New Drachma !!!  Anyone with euros in their pocket could spend them, but only in another Euro country.  No bank in Greece will exchange them at  any rate but the official rate !!!

The leaders of the EUROZONE will soon know how far they can realistically go to "save" or "protect" the EURO in future !!!

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