French Central Bank Admits The Obvious: France Back in Recession

French Central Bank Admits the Obvious: France Back in Recession (Global Economic Analysis, Aug 8, 2012):

For those who who view matters on a practical basis, France has been in recession the entire year. For those who need to see two quarters of negative growth first, France slides back in recession.

France is headed back into recession for the second time in just over three years, the country’s central bank warned on Wednesday.

Read moreFrench Central Bank Admits The Obvious: France Back in Recession

President Francois Hollande Vows To Impose 75 Percent Tax On Income Above €1 Million Per Year (New York Times)

Flashback:

Francois Hollande Is Another Bilderberg Stooge (Video)

French Front-Runner Pledges 75% Tax Bracket (Wall Street Journal):

PARIS—French presidential front-runner François Hollande said taxpayers earning over €1 million ($1.35 million) a year would be subjected to a special 75% tax bracket should he be elected, underscoring heightened interest across Europe in raising taxes on the wealthiest individuals.


Indigestion for ‘les Riches’ in a Plan for Higher Taxes (New York Times, Aug 7, 2012):

PARIS — The call to Vincent Grandil’s Paris law firm began like many others that have rolled in recently. On the line was the well-paid chief executive of one of France’s most profitable companies, and he was feeling nervous.

Some rich citizens have already left. In recent years, the actress and model Laetitia Casta, the chef Alain Ducasse and the singer and actor Johnny Hallyday all moved away to avoid high taxes.

President François Hollande is vowing to impose a 75 percent tax on the portion of anyone’s income above a million euros ($1.24 million) a year. “Should I be preparing to leave the country?” the executive asked Mr. Grandil.

Read morePresident Francois Hollande Vows To Impose 75 Percent Tax On Income Above €1 Million Per Year (New York Times)

Spain’s Not Getting a Bailout… Neither is Italy… It’s the END GAME Folks

Spain’s Not Getting a Bailout… Neither is Italy… It’s the END GAME Folks (ZeroHedge, July 7, 2012):

Spain got a “bailout” or so the media claimed. Because I cannot find any entity in Europe with the funds to actually bailout Spain (the EUFN is tapped out, the ESM has major political issues, and Germany is risking a credit downgrade and insolvency based on its backdoor EU props).

As one would expect in this situation, things are rapidly going into hyper-drive in Spain. The weekend before last the country implemented capital controls including

  • A minimum fine of  €10,000 for taxpayers who do not report their foreign accounts.
  • Secondary fines of  €5,000 for each additional account
  • No cash transactions greater than €2,500
  • Cash transaction restrictions apply to individuals and businesses

Does this sound like the actions of an economy with a sound banking system?

On a related note, Italy is once again back on the brink: in the last 2 weeks Italy’s Prime Minister Mario Monti has said that the country is “flirting with economic disaster… [and] in a crisis.” He, like Spain’s PM Rajoy, has pushed for the ESM to buy sovereign bonds. He’s also asked the ECB to implement a mechanism through which it would buy Italian sovereign bonds whenever the spread between them and German bunds grows too large (a type of bailout).

Indeed, things are so desperate that he invited German Chancellor Angela Merkel, French President Francois Hollande, and Spanish Prime Minister Mariano Rajoy to an emergency meeting in Rome over the weekend. His goal was to convince EU leaders to allow Italy to receive funding directly from the EFSF and ESM.

The ECB and Germany have already rebuked this idea:

Read moreSpain’s Not Getting a Bailout… Neither is Italy… It’s the END GAME Folks

French Government Considers Extending TV Licence Fee To Computer Screens

France may extend TV licence fee to computer screens (Guardian, July 1, 2012):

Culture minister says government is considering making those who own a computer screen but no television pay up

The French government is considering extending the television licence fee to include computer screen owners to boost revenues for public-sector broadcasting operations, the culture minister said on Saturday.

President François Hollande’s Socialist government aims to raise an extra €7.5bn (£6bn) this year through tax rises included in an amended budget bill to be unveiled next week.

Read moreFrench Government Considers Extending TV Licence Fee To Computer Screens

Bilderberg Hollande Goes The ‘Full Obama’ As The Second Great October Socialist Revolution Takes Place In June

See also:

Francois Hollande Is Another Bilderberg Stooge (Video)


Hollande Goes The “Full Obama” As The Second Great October Socialist Revolution Takes Place In June (ZeroHedge, June 22, 2012):

With every passing day, we learn that those pesky socialists in charge of the “Evil Empire” were right all along:

  • HOLLANDE SAYS THOSE WHO BENEFITTED MOST IN PAST 5 YRS WILL PAY
  • HOLLANDE CALLS ON `PATRIOTIC’ FROM WHO EARNED MOST TO CONTRIBUTE

In other words, Obama’s “Fairness Doctrine” has just gone airborne. And judging by history is very contagious. Only this time the “other people’s money” has run out as the ECB’s announcement of condom wrappers as collateral, showed us this morning.

Italy’s PM Mario Monti: We Have A Week To Save The Eurozone

International Advisor Of Goldman Sachs, Chairman Of The European Branch Of The Trilateral Commission And Bilderberg Member Mario Monti:

We have a week to save the eurozone

“The Italian leader is to hold talks with Bilderberg Chancellor Angela Merkel of Germany, the Bilderberg French president, François Hollande, and Spain’s prime minister, Mariano Rajoy, in the hope that the single currency’s big four countries can pave the way for a breakthrough at next week’s meeting.

Problem, reaction, solution … coming your way.


Italian prime minister warns that there is no room for failure in talks between single currency’s big four countries


Italian prime minister Mario Monti has spoken of the potentially disastrous consequences of the collapse of the eurozone. Photograph: Edgard Garrido/Reuters

Mario Monti: we have a week to save the eurozone (Guardian, June 22, 2012):

Italy’s prime minister, Mario Monti, has warned of the apocalyptic consequences of failure at next week’s summit of EU leaders, outlining a potential death spiral that could threaten the political and economic future of Europe.

The Italian leader is to hold talks with Chancellor Angela Merkel of Germany, the French president, François Hollande, and Spain’s prime minister, Mariano Rajoy, in the hope that the single currency’s big four countries can pave the way for a breakthrough at next week’s meeting.

Speaking to the Guardian and a group of leading European newspapers, Monti said that, without a successful outcome at the summit, “there would be progressively greater speculative attacks on individual countries, with harassment of the weaker countries”. The attacks would be focused not only on those who had failed to respect EU guidelines, but also on those like Italy, which he said had abided by the rules “but which carry with them from the past a high debt”.

Monti warned: “A large part of Europe would find itself having to continue to put up with very high interest rates that would then impact on the states and also indirectly on firms. This is the direct opposite of what is needed for economic growth.”

Read moreItaly’s PM Mario Monti: We Have A Week To Save The Eurozone

Bilderberg Merkel Prepares To Strike Back Against Bilderberg Hollande

Related info:

Bilderberg Power Masters Meet In The US (The Last Time They Met In The US Was In 2008 – And The World Got Obama)

Francois Hollande Is Another Bilderberg Stooge (Video)


Merkel Prepares to Strike Back Against Hollande (Spiegel, May 26, 2012):

France’s new president, François Hollande, has put the German chancellor on the defensive with his growth agenda. Now Angela Merkel is planning to strike back. She is calling for structural reforms to save the euro with a six-point plan aimed at harmonizing austerity and growth in Europe once again.

The more European leaders talked at a dinner last Wednesday, the grimmer Angela Merkel looked. One after another, they spoke out in favor of the joint assumption of debt and against the strict austerity course Berlin is calling for. The chancellor stared silently at the man who was responsible for this change of mood — France’s new president, François Hollande, who noted with satisfaction that there was “an outlook for euro bonds in Europe.”

Read moreBilderberg Merkel Prepares To Strike Back Against Bilderberg Hollande

Francois Hollande Is Another Bilderberg Stooge (Video)


Change!


YouTube Added: 07.05.2012

Description:

The mass media is promulgating the notion that the election of Socialist French President Francois Hollande represents some kind of massive sea change and is a direct challenge to the European Union, and yet Hollande’s past and the people he surrounds himself with confirms the fact that he is merely another committed globalist and an enthusiastic supporter of the dictatorial EU’s sovereignty-stripping ethos.

“In the whole of Europe it’s time for change,” Hollande told cheering crowds who gathered to hear his victory speech in Paris early Monday,” reports the L.A. Times.

Read moreFrancois Hollande Is Another Bilderberg Stooge (Video)

Eurozone Crisis: Bilderberg Angela Merkel Tells Bilderberg Lucas Papademos And Bilderberg Francois Hollande To Stick To Spending Limits

Change!


Efforts to save the euro under threat after EU leaders’ strategies collide with the wishes of voters in Greece and France


German chancellor Angela Merkel has insisted Athens must comply with the stringent terms of its €130bn (£100bn) bailout. Photograph: Fabrizio Bensch/Reuters

Eurozone crisis: Merkel tells Athens and Paris to stick to spending limits (Guardian, May 7, 2012):

Europe’s 30-month effort to save the euro by slashing spending and debt levels risks turning into a crisis of political legitimacy after EU leaders’ strategies collided spectacularly with the wishes of voters in Greece and France.

The impasse was most graphically demonstrated when Germany’s chancellor, Angela Merkel, insisted Athens must comply with the stringent terms of its €130bn (£100bn) bailout even though more than 60% of the Greek electorate had voted for parties rejecting those terms.

Following a French election campaign in which she strongly backed the loser, Nicolas Sarkozy, and snubbed the president-elect, François Hollande, Merkel stressed her opposition to Hollande’s central campaign pledge: reopening the euro’s new rulebook, or fiscal pact.

“That’s just not on,” she told a Berlin press conference called to address the huge shift from right to left in France.

Read moreEurozone Crisis: Bilderberg Angela Merkel Tells Bilderberg Lucas Papademos And Bilderberg Francois Hollande To Stick To Spending Limits