Above, supporters of France’s new president, François Hollande celebrating in the Place de la Bastille. There is a historical irony about these jubilant supporters of Monsieur Hollande celebrating their victory in the Place de la Bastille. It was of course the storming of the Bastille of 14th July 1789 that brought forth the French Revolution. Then, the early joyous cries of, “Liberté, égalité, fraternité” gave way to the Reign of Terror and the Directoire.
The election of Monsieur Hollande and also the anti-austerity parties in Greece threaten to bring forward the eventual collapse of the Euro and hopefully, the whole European project.
The British Gazette must admit – purely on the basis that it does not like to see any human being suffer – even if he is French – to a small (and it is small) degree of sympathy for Monsieur Hollande. This is because the poor man has placed himself in a no win situation.
If any man could be said to be between a rock and a hard place, it is poor Monsieur Hollande! For Monsieur Hollande, “the rock” is economic reality and the “hard place” is the fervent expectations of the French people – who as British Gazette readers know are prone to indulge “in an active political discourse” – that is glossy spin for strikes, demonstrations, and the occasional riot!
If Monsieur Hollande attempts to grow the French economy by more borrowing, the international markets will very soon raise the price of French sovereign debt to un-payable levels. If Monsieur Hollande continues with an economic austerity policy to enable France to continue to function, the French people will very soon be on the streets.
The same applies to Greece, but “with brass knobs on.”
As time goes on it must surely dawn on any Europhile possessed of a functioning brain that the Euro was a political project doomed to failure.