François Hollande resembles Hercules fair that strove to bend a huge iron bar. Blowing, blushing, sweating, they succeeded to the applause of onlookers. Except that the famous curve unemployment resists her efforts Elysian’s tough. And although the upturn in October allows him to breathe, nothing says that unemployment will decline permanently.
Afraid to disappoint his audience, the President of the Republic even blurted out yesterday morning that inversion “take all the time necessary.” The Defence Minister could clarify that this “time” reminds one that puts the gun barrel to cool, according to Fernand Raynaud.
Just released this pessimistic confession, the President initiated the walk back to reaffirm that it is confident that the curve of unemployment will decrease. This new misstep in communication undermines the Elysian voluntarism. If even the head of state comes to contradict, it is evidence of some discomfort to the top.
optimism displayed by the Élysée is contradicted by almost all economic organizations. The lack of growth in France, the only way to create productive jobs. So far the government has played the card subsidized jobs to reduce the numbers of Pôle Emploi. This policy generates more deficits it creates wealth.
But prospects ahead in 2014 will hardly brilliant. The IMF expects growth of 1% in France next year, which hardly cause for optimism in terms of job creation. This forecast is doubly disturbing for most economically and electorally.
France promised to continue its austerity. Without growth, the economy will generate less wealth means less cash in the coffers that will tighten the screws a little more in terms of savings and, it must be feared, levies. All this is likely to pay cash in March in municipal and European. If there is a curve which may significantly reverse is the socialist elected. And despite presidential mantras chanted relentlessly.
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