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Entire French Government Resigns Ahead Of Ministerial Reshuffle

Tyler Durden's picture




 

From BNO: French Prime Minister François Fillon on Saturday offered the
government’s resignation ahead of a long-awaited ministerial reshuffle.

“Pursuant to Article 8 of the Constitution, Mr. François Fillon
presented to the President the resignation of the government,” a
statement from French President Sarkozy’s office said. “The President
accepted the resignation and has terminated the functions of Mr.
François Fillon.”

 

In other news, GM IPO - meet "market conditions."

 

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Sat, 11/13/2010 - 14:52 | 724958 unum mountaineer
unum mountaineer's picture

ruh roh

that's not cool man

Sat, 11/13/2010 - 15:44 | 725085 Arius
Arius's picture

why not?

btw - quick question if anyone knows - was Larry Summers suppose to leave after the elections?

did Summers leave already?

who replaced him?

Sat, 11/13/2010 - 18:34 | 725303 flacon
flacon's picture

Larry Summers reminds me of that stupid kid who throws an aerosol can on the fire as the children are roasting marshmallows - and then he runs away. 

 

I have no problem with blowing up aerosol cans in the fire, but not with children huddled 'round. 

Sat, 11/13/2010 - 19:48 | 725405 Arius
Arius's picture

 

thats a good one - the way he views things, "the children" around are just collateral damage to the aerosol can on fire which MUST go on...

Sun, 11/14/2010 - 01:21 | 725760 Problem Is
Problem Is's picture

Larry did it to grab all the other kids' marshmallows...
How do you think he became "Fat Larry" Summers...

BTW: Timmay dropped his marshmallow in the dirt, peed his pants and started to cry...

Sat, 11/13/2010 - 18:37 | 725305 French Frog
French Frog's picture

it's just the standard way of doing a cabinet reshuffle: mr fillon will retake his post as prime minister tomorrow and a few ministers will either be moved to other departments or replaced.

 

why is this even considered newsworthy: zh running out of sensationalist headlines for the weekend? disappointed really

Sat, 11/13/2010 - 18:44 | 725316 knukles
knukles's picture

"why is this even considered newsworthy"

Accompanied by dismissive gestures, we all Agree.

Sat, 11/13/2010 - 20:39 | 725465 E pluribus unum
E pluribus unum's picture

Ummm, you guys do know that W asked for the resignations of every member of his cabinet after the election of 2004 right? Some were accepted and some were not. This is standard operating procedure

Sat, 11/13/2010 - 20:57 | 725489 bluebare
bluebare's picture

Really.  And WHY in the world would three people flag as junk a post that simply and accurately points out how mundane this non-financial news is?   I'd like to hear from the folks that flagged this as to why they think this is important financial news or what about Frog's post they find so objectionable that they flagged it.  Geez, get a right-sized world-view people.

Sun, 11/14/2010 - 00:33 | 725720 Oracle of Kypseli
Oracle of Kypseli's picture

I believe that ZH perhaps would also be criticized if it had not reported this. It only takes 3 inches on the screen. What's the problem here?

Sun, 11/14/2010 - 18:24 | 726437 destiny
destiny's picture

Then ZH should have reported the headline completely, the gvt just did not resign to make a headline, it resigned as planned 6 months ago to reshuffle people around in the different ministries.  Moreover Fillon resigned to be reinstated in the current gvt.

Sun, 11/14/2010 - 05:25 | 725863 Sneeve
Sneeve's picture

5% of ZH content has to be resolutely non-americocentric. It's in the charter. This article fills today's quota.

Sun, 11/14/2010 - 07:09 | 725881 French Frog
French Frog's picture

that explains it then

;-)

i'd still love to know the reasons why i got junked for telling facts; this place will become a scary place if people take any headline as godsend and don't bother to do their own homework to find the actual truth.

 

Sun, 11/14/2010 - 18:26 | 726440 destiny
destiny's picture

+1 I agree

Sun, 11/14/2010 - 17:20 | 726353 Al Gorerhythm
Al Gorerhythm's picture

You are of course correct, on both counts. YAWN.

Sun, 11/14/2010 - 21:22 | 726733 puckles
puckles's picture

That M. Fillon will retake his post tomorrow is perhaps, indeed--quite likely, true.  But we do not do "cabinet reshuffles" the same way here.  

This is obviously a response to Sarkozy's acceptance of the 62-year old retirement age change (and that entire issue is a joke, but requires far too much comment here); there are plainly a number of members of the Assemblee Generale who want to keep their seats. Whether they shall or not is another matter.

Sat, 11/13/2010 - 14:53 | 724964 papercanteen
papercanteen's picture

I guess i'll be that guy...

 

So what does this mean?  What happens now?  Did Sarkozy step down?  The way this clip is written it makes me think that the "government" stepped down, but soemhow Sarkozy remains in place given that he's the one accepting the resignation?

Sat, 11/13/2010 - 15:01 | 724987 unum mountaineer
unum mountaineer's picture

 they tend to be the ones that get the blame when there is rioting in the streets

Sat, 11/13/2010 - 15:10 | 725004 nmewn
nmewn's picture

"So what does this mean?"

It means no one loses their head...literally ;-)

Sat, 11/13/2010 - 15:24 | 725015 Bob
Bob's picture

I was picturing those same guillotines!

It seems to me that in France a t-shirt with the simple image of a guillotine with no other message whatsoever would make a perfect statement.  I wonder if anybody is doing that?

Sat, 11/13/2010 - 15:45 | 725087 Azannoth
Azannoth's picture

I think the 2nd French Revolution could turn out exactly the same as the 1st with a despot (Robespierre) taking over

Sun, 11/14/2010 - 00:01 | 725678 TBT or not TBT
TBT or not TBT's picture

2nd?   I demand a recount.  They refer to their current setup as the 5th Republic.

Sun, 11/14/2010 - 19:36 | 726556 morkov
morkov's picture

i like this t-shirt!

Sat, 11/13/2010 - 15:21 | 725028 unum mountaineer
unum mountaineer's picture

well idk...imvho, its alot easier to reach out and touch somebody..spread the love. ya know?!

Sat, 11/13/2010 - 17:07 | 725197 ImNotExposedToS...
ImNotExposedToSpeakAnySuchInformation's picture

But... "Sarkozy hopes to inject fresh blood into the cabinet to brace up for next presidential election in 2012."

Perhaps the blood from the headless corpses of the "retired" cabinet?

Sat, 11/13/2010 - 18:39 | 725309 French Frog
French Frog's picture

it means zh looking for sensationalist headlines when there should not be one; very sad; it's just a trivial event, ie a cabinet reshuffle

Sat, 11/13/2010 - 19:26 | 725370 fxrxexexdxoxmx
fxrxexexdxoxmx's picture

What makes french sound so funny is their unabashed cowardice.

Sat, 11/13/2010 - 22:15 | 725574 chrisina
chrisina's picture

What does this mean?

Nothing. Under the French 5th republic constitution, this is the standard process by which the President (Sarkozy) reshuffles his government (Fillon, the Prime minister, and the cabinet of ministers).

Did Sarkozy step down?

Nope, he is just reshufling his government, as he anounced already 6 months ago that he would be doing so. This is not a government "collapse" as Tyler seems to think, but a mere technicality.

French Frog is correct there is nothing to see here. The French government always resigns ahead of a change of government. This has already happened 13 times during the 5th republic (ie since 1959).

Sun, 11/14/2010 - 21:36 | 726756 puckles
puckles's picture

The French Constitution is in some respects similar to ours, but it demands in reality a mixed "Head of State"/Parliamentary government.  M. Sarkozy is the President, elected for a 7 year term; he can be re-elected for another 7 year term, but he cannot step down.  He is the Head of State.  The Prime Minister, on the other hand, is the Head of Parliament, and the Leader of the majority party(ies), usually a coalition in France. When a decisive political event occurs, he can call the government (Assemblee Generale, or parliament) down.  Then a nationwide vote occurs.

In effect, it's not terrifically different from the UK government; the Queen is the Head of State (and the Church), but she holds that office for life, and under a Constitutional Monarchy, is not allowed to make much noise, if any, about politics.  Parliament takes care of that.  

In France, the Presidency remains a semi-regal role, absent the religious requirement, but it does have a very vivid political element.  The stage for this was set essentially by Napoleon as First Consul, and has not really changed all that much since then.

Sat, 11/13/2010 - 14:56 | 724968 Spalding_Smailes
Spalding_Smailes's picture

 

 

Can you hear that....... ? Thats the stampeed into dollars.

 

Sat, 11/13/2010 - 14:59 | 724979 Strongbad
Strongbad's picture

Maybe CHF gets a small boost also?

Sat, 11/13/2010 - 15:00 | 724983 unum mountaineer
unum mountaineer's picture

i liked playing on the see-saws when I was kid...

Sat, 11/13/2010 - 15:02 | 724990 unum mountaineer
unum mountaineer's picture

mooo

Sat, 11/13/2010 - 17:51 | 725250 mt paul
mt paul's picture

stop at the top ..

or

cows don't climb

Sat, 11/13/2010 - 15:34 | 725049 GoinFawr
GoinFawr's picture

"Can you hear that....... ? Thats the stampeed into dollars."

Hah, you wish Smailes. Or by 'dollars' did you mean CAD, or AUD? Surely you weren't referring to worth-ever-less USD?

Hell mb this time around the le harde would like something with absolutely zero 'counter party liability' rather than pretty printed bitz of fiat paper debt; can you offer any viable suggestions Smailesy? Non?

Well I sure can...

Regarde

Sat, 11/13/2010 - 15:38 | 725071 Strongbad
Strongbad's picture

You forgot Singapore and New Zealand Dollars :)

Sat, 11/13/2010 - 16:02 | 725110 GoinFawr
GoinFawr's picture

Damnit, I always do that! Thanks for calling me on it.

Sat, 11/13/2010 - 19:44 | 725394 Spalding_Smailes
Spalding_Smailes's picture

can you offer any viable suggestions Smailesy? Non?

 

http://www.youtube.com/watch?v=LHacDYj8KZM

 

 

Sat, 11/13/2010 - 20:48 | 725480 GoinFawr
GoinFawr's picture

I guess not, then. On the other hand:

"If I had a thousand ounces...

(if I had a thousand ounces)"

Sat, 11/13/2010 - 22:27 | 725539 Spalding_Smailes
Spalding_Smailes's picture

I guess not, then.

 

I think next quarters numbers are going to suprise.JMO(manufacturing is picking up all across chicago) Dollar denominated debt needs to be serviced in the future, global businesses and even countries continue to issue bonds using dollar denominated debt/millions and millions every day. Everytime we have a global issue the dollar always finds a bid, safe haven .... Oil is tied in with the dollars seeing we just sold saudi 60 billion in weapons with another 90 billion for her friends this oil peg is not changing, global trade(shipping letters of credit or related forms of financing and guarantees such as trade credit insurance. International shipping works on “letters of credit.”), global finance all this global debt needs servicing in dollars.. The

All this churn will keep a floor/bid under the dollar.

The securitization market is broken and trillions of debt/housing/credit card/all types of loans all leveraged 100-1 all gone is sitting offbalance sheet with the banks, the deflation created by this will last a long time they will be taking this down over many,many years creating a need for dollars ...

"Confessions of an Economic Hit Man" lays out the way countries are brought under the dollars spell .. billions in energy projects/grid, water projects... .

 

 

Sat, 11/13/2010 - 22:39 | 725588 GoinFawr
GoinFawr's picture

In the whole creditor/debtor relationship, smailes, who is in the driver's seat? Who's wearing the pants? Who holds all the cards? Who is 'The House'?

Well, if you were a creditor we certainly all have a pretty good idea what would be your preferred currency of payment. However I am willing to wager that, unfortunately for you, there are a lot of much, much larger creditors out there than yourself, and that even some of those owed USD who wouldn't mind, would even likely prefer, receiving all sorts of assets as payment in  lieu of your precious FRN's. Au/Ag are just as fungible as any fiat currency, and (it bears repetition) devoid of counter-party liability.

Try to be objective for a fraction of a second smailes, and ask yourself what creditor in his right mind would prefer taking payment that is a debt owed from a dying hegemony vs a hard asset free and clear...

Denominate debt in whatever currency you want, but from the perspective of a creditor who is much more in the position of power to decide method of payment (rather than the debtor who'd best play ball),  they are all fungible, which negates your argument completely.

Yes, guns might still be to some creditor's heads, sure, but not all, and not necessarily for much longer.

Sat, 11/13/2010 - 22:59 | 725596 Spalding_Smailes
Spalding_Smailes's picture

They have debt denominated in dollars. They service this debt/ make debt payments in dollars. They have no choice. Oils not moving off the peg. The only way they can buy this oil is in dollars. The global banking/derivative market is dominated by dollars. Hence the swap lines. The non stop pounding on his door for more ...

Things will stay this way until war/global reset.

If I had $500,000 yep I would have 50-100 in gold myself. Your not going to wake up and find gold down 50% but you could with most stocks ect .... I just think if I had bought gold at say 600-700 I would feel real good taking profit now. Me I would buy a nice farm in central Wisconsin and call it a day...Oh I wish I could .... :-) JMO

"Confessions of an Economic Hit Man"

"Covertly recruited by the United States National Security Agency and on the payroll of an international consulting firm, he traveled the world—to Indonesia, Panama, Ecuador, Colombia, Saudi Arabia, Iran and other strategically important countries...Perkins reveals the hidden mechanics of imperial control behind some of the more dramatic events in recent history, such as the fall of the Shah of Iran, the death of Panamanian leader Omar Torrijos, and the U.S. invasions of Panama and Iraq."[3]

According to his book, Perkins' function was to convince the political and financial leadership of underdeveloped countries to accept enormous development loans from institutions like the World Bank and USAID. Saddled with debts they could not hope to pay, those countries were forced to acquiesce to political pressure from the United States on a variety of issues. Perkins argues in his book that developing nations were effectively neutralized politically, had their wealth gaps driven wider and economies crippled in the long run. In this capacity Perkins recounts his meetings with some prominent individuals, including Graham Greene and Omar Torrijos. Perkins describes the role of an EHM as follows:

Economic hit men (EHMs) are highly-paid professionals who cheat countries around the globe out of trillions of dollars. They funnel money from the World Bank, the U.S. Agency for International Development (USAID), and other foreign "aid" organizations into the coffers of huge corporations and the pockets of a few wealthy families who control the planet's natural resources. Their tools included fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder. They play a game as old as empire, but one that has taken on new and terrifying dimensions during this time of globalization.

 

I understand 100% with what  you are saying, I agree the dollar is poop but they must all play the game they are stuck with it ...

Sat, 11/13/2010 - 23:04 | 725629 GoinFawr
GoinFawr's picture

MB, we'll see. An abrupt, practically simultaneous 'realization' by the lion's share of the world's population is completely possible in light of current communications capabilities.

And FWIW: Those books by John Perkins, through outlining exactly how 20-21st century imperialism functions and propagates, also illustrate precisely how to defend against and/or dismantle the same, complete with successful examples. I highly recommend reading them to anyone who has the chance. Your local library should carry them if you don't wish to pay.

JMHO,natch.

 

Sat, 11/13/2010 - 23:13 | 725636 Spalding_Smailes
Spalding_Smailes's picture

Peace.

I just picked it up 10 minutes ago of my bookshelf, just sucks you in .... now im 30 minutes into it Lol'

We should / I will when a thread is rolling to have ZH posters give book/movie recommendations.

I never knew about the early 80's movie rollover. Someone posted clips off youtube, I still have yet to see it. Looks great.

But if you have any other books ... Let me know.

Sat, 11/13/2010 - 23:17 | 725640 GoinFawr
GoinFawr's picture

Here's what MISH  has to say about the 'USD: we're stuck with it' meme.

http://globaleconomicanalysis.blogspot.com/2009/10/ridiculous-hype-over-secret-oil.html

Indirectly, it supports what I am saying.

Best Regards

Sat, 11/13/2010 - 23:34 | 725650 Spalding_Smailes
Spalding_Smailes's picture

Thanks ( good link ),

Hes a smart cat. He used to roll on Itulip.com before he started on his own. Him and Eric Janszen used to battle .... They both bring great insight into inflation/deflation issue...

I like ...

The trillion dollar meltdown ~ Charles Morris

The culture of contentment ~ John Kenneth Galbraith

Den of Thieves ~ James Stewart

Empire of Debt ~ Bill Bonner & Addison Wiggin ...

Sun, 11/14/2010 - 00:33 | 725719 doolittlegeorge
doolittlegeorge's picture

"it ain't gonna do it for interest rates."  and that's what we've been told doesn't matter (Great Depression 2.0) since DAY ONE and it's a big pile of BULLSHITSKI.  Well HERE'S THE NEWS!  That ain't no "broken army" mofo's--and "this is a broken America."  Maybe next time "you'll try it during peacetime instead of right at the beginning of our winter offensive into Kandahar."  You said you wanted to "pay for that war"?  Well HERE IT COMES...

Sun, 11/14/2010 - 09:58 | 725940 Orly
Orly's picture

Hate to kick you when you're down, but...Hong Kong.

:D

Sat, 11/13/2010 - 14:56 | 724969 Strongbad
Strongbad's picture

This seems to happen pretty often in France.  They have had quite a few different Republics since the original Revolution.  Can we assume this is in response to the riots? 

Sat, 11/13/2010 - 18:40 | 725311 French Frog
French Frog's picture

no; if you'd bother to google it you'd see it is an absolute non-event

Sat, 11/13/2010 - 19:27 | 725371 fxrxexexdxoxmx
fxrxexexdxoxmx's picture

Or you could use Snopes or Media Matters if you want unbiased information.

 

 

 

 

/s

Sat, 11/13/2010 - 22:18 | 725576 chrisina
chrisina's picture

Can we assume this is in response to the riots?

Nope. Sarkozy already anounced 6 months ago that he would proceed with a change of government once the retirement reform has been promulgated.

Sat, 11/13/2010 - 14:58 | 724973 williambanzai7
williambanzai7's picture

Sat, 11/13/2010 - 15:11 | 725007 Cojones
Cojones's picture

Just for future reference, WB, in Europe we call him Sarko.

Sat, 11/13/2010 - 15:32 | 725054 Fractal Leverage
Fractal Leverage's picture

I think since it's a dog he tried to merge "Sarko" with "Sparky"

Sat, 11/13/2010 - 15:36 | 725066 GoinFawr
GoinFawr's picture

Say, isn't 'Sarkozy' a Hungarian name, anyway?

What are the Magyar doing running France?

A beka segge allat

Regarde

Sat, 11/13/2010 - 17:27 | 725219 Steroid
Steroid's picture

Man, that is "be'ka segge alatt".

What the magyars are doing? Laughing!!

The way his name is misspronounced Europe wide is literally means "between piles of shit" in Hungarian.

Sat, 11/13/2010 - 17:42 | 725240 Eally Ucked
Eally Ucked's picture

Bravo man!!!

Sat, 11/13/2010 - 18:39 | 725245 liberal sodomy
liberal sodomy's picture

Let's take a step back and behold the "leadership" of Western countries:

france- a hungarian jew dwarf

germany - a hausfrau budgie

Foodstampistan (the former America) - an illegitimate communist, mulatto bastard of unknown paternal origin

australia - a communist satan worshipping lesbian

"In politics, nothing happens by accident. If it happens, you can bet it was planned that way ." - roosenveldt

Sat, 11/13/2010 - 18:48 | 725318 yabyum
yabyum's picture

@liberal...sorry dude, you are a anti semitic asshole;)

Sat, 11/13/2010 - 20:44 | 725475 liberal sodomy
liberal sodomy's picture

"jews" aren't semites, and you are illiterate.

Sat, 11/13/2010 - 19:30 | 725375 fxrxexexdxoxmx
fxrxexexdxoxmx's picture

USA -1/2 white racist cracker trying to bring the brothers down.

Sat, 11/13/2010 - 20:38 | 725464 Fraud-Esq
Fraud-Esq's picture

as opposed to the white men at banks who have done a stellar job? 

Sat, 11/13/2010 - 20:42 | 725470 liberal sodomy
liberal sodomy's picture

got judefetzen?  Hitler was right about everything.

"And it proved sound. It worked. In less than ten years Germany became easily the most powerful state in Europe. It worked so magically and magnificently that it sounded the death knell of the entire (Zionist) Jewish money system. World Jewry knew that they had to destroy Hitler's system, by whatever means might prove necessary, or their own [system of usury] would necessarily die.   And if it died, with it must die their dream and their hope of making themselves masters of the world. The primary issue over which World War II was fought was to determine which money system was to survive. At bottom it was not a war between Germany and the so-called allies. Primarily it was war to the death between Germany and  the International Money Power." --William Gayley Simpson, 'Which Way Western Man' (p.642)
Sat, 11/13/2010 - 23:42 | 725663 Spalding_Smailes
Spalding_Smailes's picture

The bankers funded Hitler he was a puppet with a hand up his ass. Guess who's hand it was ?

Sat, 11/13/2010 - 23:46 | 725666 Orly
Orly's picture

Oooh, oooh, I know!

Prescott Bush and Roland Harriman?

Sun, 11/14/2010 - 00:01 | 725676 Spalding_Smailes
Spalding_Smailes's picture

annnnd ? Who did they roll with/work under ? I know this alley gets dark.

Sun, 11/14/2010 - 00:59 | 725739 Orly
Orly's picture

Oooh, Oooh, I know!

The Warburgs and Rothschild Bank?

Sun, 11/14/2010 - 01:15 | 725755 Spalding_Smailes
Spalding_Smailes's picture

Ding,ding,ding.

 

I owe you a drink & shot ...

Sun, 11/14/2010 - 09:25 | 725919 i-dog
i-dog's picture

"The bankers funded Hitler"

They might have funded him, but they sure didn't want him to win. They funded all sides (Stalin, Hitler, Churchill, Rosenveldt) ... it's a game they like to play.

Sun, 11/14/2010 - 01:08 | 725750 nmewn
nmewn's picture

"And it proved sound. It worked. In less than ten years Germany became easily the most powerful state in Europe. It worked so magically and magnificently that it sounded the death knell of the entire (Zionist) Jewish money system. World Jewry knew that they had to destroy Hitler's system, by whatever means might prove necessary, or their own [system of usury] would necessarily die."

So the Teutonic Knights felt compelled to incinerate Slavs, Gypsies, Poles, etc. who were in fact their brothers...makes perfect sense...to a friggin psycho. 

Sun, 11/14/2010 - 08:15 | 725892 liberal sodomy
liberal sodomy's picture

see danzig you moron.

Sun, 11/14/2010 - 09:50 | 725933 nmewn
nmewn's picture

If you can quit fantasizing about Hitlers remaining testicle bouncing off your molars long enough...could you be a little more specific?

Sun, 11/14/2010 - 14:57 | 726214 liberal sodomy
liberal sodomy's picture

do your own homework, schmuel.  Don't fail to omit the new york jew financing of the russian revolution (Christian slaughter) and move on to the advanced studies later.

Sun, 11/14/2010 - 16:38 | 726295 nmewn
nmewn's picture

There was never a war or revolution before the founding of NY?...it's hard to understand you with that ball sack in your mouth...LOL.

Sat, 11/13/2010 - 21:40 | 725540 AUD
AUD's picture

"australia - a communist satan worshipping lesbian"

A communist yes, and quite possibly evil but I've heard she has a boyfriend.

More likely she bats for both teams. She's clueless but no more so than the last half dozen at least.

Sat, 11/13/2010 - 20:09 | 725433 Uncle Remus
Uncle Remus's picture

Got some decent 7.62x39 ammo made in Hungary recently. Brass, boxer, no steel, FMJ. No duds. And, it was on sale.

Sat, 11/13/2010 - 21:21 | 725524 New_Meat
New_Meat's picture

Goin-someone has to do it! - Ned

Sat, 11/13/2010 - 21:57 | 725552 EvlTheCat
EvlTheCat's picture

Geed is color blind.  Don't know why the racial crap is relevant?  Starting to sound like MSNBC and FOX?

Sat, 11/13/2010 - 14:58 | 724974 jellydonut
jellydonut's picture

That's not what this is, it's just the cabinet dissolving. (prime minister + the entire gaggle of other ministers) They'll have to hold a new election, that's all. Happens in European countries all the time. :p (maybe Canada too, dunno)

Sat, 11/13/2010 - 21:10 | 725505 Rogue Economist
Rogue Economist's picture

"Happens all the time"?  Nothing to see here, please move along.

Tell me, when was the last time any of the EU countries had a full cabinet resignation?  Plenty of them have had Parliamentary shakeups due to shifting party balances in Parliament, but I for one can't remember the last time any sitting Party simply en masse RESIGNED.  When was the last time before this, can you tell me?  What country was it?

RE

Sat, 11/13/2010 - 22:33 | 725591 chrisina
chrisina's picture

This has happened already 13 times in France during the 5th republic (since 1959). Every time there is a change of government, the prime minster presents the enire resignation of his cabinet to the president. Standard procedure.

No "collapse", no "response to the riots", no "new elections", no "parliamentary shakeup", just a mere technicality.

Sun, 11/14/2010 - 00:56 | 725736 nmewn
nmewn's picture

Sooo...chrisina,

When you were here, a mere few weeks ago, extolling the virtues of socialist government intervention in labor relations vis a vis the trains running on time or the state controlled energy consumed by them to allow them to run on time in France...everything still workin out OK over there as far as transportation?

Just checkin ;-)

 

Sun, 11/14/2010 - 02:53 | 725823 chrisina
chrisina's picture

everything still workin out OK over there as far as transportation?

As of now ... Yes. Was a mess during the strikes but hopefully those happen less than 1% of the time. So what's best? Trains running well, on time and at a much lower cost / mile travelled for 99% of the time or a suboptimal, inefficient, antiquated privatized rail system like in the UK for 100% of the time.

NB : gazoline distribution and raffinery is in private hands in France, didn't seem to prevent strikes from blocking the situation. 

Sun, 11/14/2010 - 09:46 | 725930 nmewn
nmewn's picture

"So what's best? Trains running well, on time and at a much lower cost / mile travelled for 99% of the time..."

Well...there's the rub.

There is no way to quantify the true cost per mile traveled when something is subsidized by government...the true cost disappears into the black hole of taxpayer subsidization...even the accountants used to try to quantify the cost would be taxpayer funded to some extent. 

Also, the cost of it's operation would have to include it's past workers (pensioners) in the real world of private business. I doubt very seriously they are shown as a liability of it's continuing operation...more than likely these fall into a former government worker category completely separate from it's daily operation.  

So...again, I humbly request ya'll send Francois the Accountant over to Amtrak to enlighten those poor foolish souls on the finer points of off book accounting ;-)

Mon, 11/15/2010 - 07:23 | 727191 nmewn
nmewn's picture

By the way...we in Fla. are looking to kill this POS subsidized boondoggle as well;

http://www.huffingtonpost.com/2010/11/14/sncf-railroad-holocaust-apology-_n_783417.html

Sat, 11/13/2010 - 22:21 | 725578 chrisina
chrisina's picture

They'll have to hold a new election, that's all.

Not true. No new legislative or presidential election until 2012.

Sat, 11/13/2010 - 15:00 | 724982 Spalding_Smailes
Spalding_Smailes's picture

Tyler,

 

Now you must update the  ....."What will the fed buy next" .....

Lol'

Sat, 11/13/2010 - 15:00 | 724984 RobotTrader
RobotTrader's picture

Wow..

Just in time.

We are going to see a "Pell Mell" run back into U.S. Fiatscos and U.S. Treasuries.

Everything else is probably going to be dumped en masse.

Sat, 11/13/2010 - 15:41 | 725073 GoinFawr
GoinFawr's picture

"Dreaaaaam. Dream Dream Dream Dream Dreeeeeam..."

http://www.youtube.com/watch?v=YKn6h2x5IcY

I never knew you and Smailes were such fans of the Everly Brothers.

Well, you do seem stuck in the past so I guess it follows...

Bonne Chance!

Sat, 11/13/2010 - 16:16 | 725125 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Pic of Mrs. Sarkozy back in the day, please ....

Sun, 11/14/2010 - 00:15 | 725695 merehuman
merehuman's picture

your dummer than i am robot. Thanks

Sat, 11/13/2010 - 15:06 | 724995 Rick Masters
Rick Masters's picture

I don't believe there is a need for parliamentry approval of ministers in France, of which the PM is one. Therefore, it all amounts to the same, absolutely nothing, I think.

Sat, 11/13/2010 - 18:42 | 725312 French Frog
French Frog's picture

at least someone in here has some sense and refused to be led down a headline-grabbing alley

Sat, 11/13/2010 - 20:07 | 725427 ratava
ratava's picture

posts need headlines, mr gay pride avatar

Sat, 11/13/2010 - 21:32 | 725533 knukles
knukles's picture

S'not the French flag?

Sun, 11/14/2010 - 07:04 | 725880 French Frog
French Frog's picture

honestly, is it?

i could not think of anything clever as an avatar, so i opened Paint, drew a few lines & filled a few areas with various colours available on the restricted palette and replicated a gay avatar?

what are the odds of that?

Sat, 11/13/2010 - 15:08 | 725000 Spalding_Smailes
Spalding_Smailes's picture
Sarkozy accused of spying on journalists to thwart corruption probe

 

After months of criticism over belt-tightening reforms to the pension system and his decision to expel thousands of Roma from France, French President Nicolas Sarkozy is being accused of taking a page from former U.S. president Richard Nixon’s playbook.


The accusations, which involve a series of break-ins at journalists’ homes and offices, the use of detailed phone bills to track down journalists’ sources, and reports that Mr. Sarkozy set up and supervised a special unit of the secret service to spy on journalists, are grabbing headlines across France. And journalists are sounding the alarm, saying that Mr. Sarkozy has engaged the French secret service in order to stop them from reporting on allegations of widespread government corruption.

http://www.theglobeandmail.com/news/world/europe/sarkozy-accused-of-spyi...

Sat, 11/13/2010 - 15:08 | 725001 Slash
Slash's picture

so...dollar up, euro down, bonds up, stocks down, mirite?

Sun, 11/14/2010 - 00:17 | 725698 merehuman
merehuman's picture

Its all bullish, up down does it matter? Shoot it, if it dies..BUllish!!

If it doesnt we get to shoot again..Bullish

Sun, 11/14/2010 - 13:27 | 726131 MsCreant
MsCreant's picture

So you are saying it is all a bunch of "bull?" ;-)

Sat, 11/13/2010 - 15:19 | 725025 kroak
kroak's picture

Slow down guys, this event was totally expected and planned. A french president term include several government changes. We knew this one was to happen after the pension reform.

Sat, 11/13/2010 - 15:53 | 725036 Dismal Scientist
Dismal Scientist's picture

Tyler, you forgot the second sentence of the article you quote from. As follows:

'The government's resignation is a traditional formality, allowing the head of state to pick new ministers without having to fire his existing team.'

Not much more to be said.

Sat, 11/13/2010 - 15:25 | 725038 RockyRacoon
RockyRacoon's picture

Joyandet resigned after allegedly renting a private jet in March to attend an international aid conference on Haiti in Martinique, a southern French island, which cost 116,500 euros (146,230 dollars). Additionally, Joyandet came under political fire for misusing his political power to obtain an illegal building permit to expand his home in Saint Tropez, a town to the east of Marseille in southeastern France.

Joyandet was appointed to his position in March 2008 and was the CEO of a French publisher of weekly newspapers and journals prior to that.

Blanc resigned for charging 1,200 euros (1,506 dollars) a month to his standard ministry’s budget to buy cigars. He did so for ten months, costing the state 12,000 euros (15,062 dollars).

http://wireupdate.com/wires/7260/two-french-ministers-resign-after-spend...

Sat, 11/13/2010 - 16:50 | 725153 Green Leader
Green Leader's picture

The people in Guadeloupe/Martinique are fed up with Papa Blanc:

http://www.youtube.com/watch?v=bep_Oq0IkYE&feature=related

http://www.youtube.com/watch?v=ghWAg5OiM6I

 

 

Sat, 11/13/2010 - 15:32 | 725052 Unlawful Justice
Unlawful Justice's picture

Government should fear it's people!!! or lose their head.    

Got a love the French for that.

Sat, 11/13/2010 - 21:04 | 725496 GoinFawr
GoinFawr's picture

At one point I used to think that that was why all Americans had firearms, but apparently the "Call of Howdy Doody" vid-game series is now enough to keep their impotent hate focussed on the poor and unfortunate elsewhere in time and space.

It must really irk the Americans that they are so recreant while a nation of grenouille eaters is still full of people with 'a pair that would breed'.

Sat, 11/13/2010 - 15:34 | 725060 max2205
max2205's picture

I d love to see our govt resign. But they can't get jobs anywhere else

Sat, 11/13/2010 - 15:39 | 725074 Hulk
Hulk's picture

They can sign infinite unemployment insurance into law before quitting. Problem solved...

Sat, 11/13/2010 - 16:46 | 725089 GoinFawr
GoinFawr's picture

I don't think you have to serve in Gov't until you're 65 (68,75 or whatever age it is that 'austerity' dictates for the peons these days) to recieve a full pension anyway; depending on the position, I believe it can be as little as 4 years on the payroll and you're set for life! Even less in some countries!  Nice 'work', if you can get it.

Regarde

Sat, 11/13/2010 - 18:53 | 725328 nmewn
nmewn's picture

I want a Clawback Amendment.

Sat, 11/13/2010 - 23:38 | 725660 Orly
Orly's picture

Okay.  What the fuck?

You're a real piece of shit, you know that?

Sun, 11/14/2010 - 00:26 | 725701 merehuman
merehuman's picture

Orly, whats got into you? Havent seen you take the anger pill before.

edit. Ah i see. pic pocket. identity theft. Hulk went gay on us. Lol funny , gives me a queer feeling. I think its funny. Of course i am an asshole. Sure aint worth getting upset about. It may be a complement of sorts.   Sorry, still laughing here.

Are you sure you are who you think you are? 

Sun, 11/14/2010 - 01:10 | 725747 Orly
Orly's picture

It's not funny at all.  I just don't take well to liars and losers, especially when they are pretending to be someone with at least half an opinion.  No one looks at names when they're reading the comments.  We are visual creatures.  We would only register the name if we were to respond to their post.

Otherwise, we would just assume that merehuman said this and merehuman said that, when you were at DisneyLand with your kids.

It's just low.  Nothing is more vulgar to me than lying and stealing because you're too lazy to think or do for yourself.  It just pisses me off.

Pic-pocket, is it?  I didn't know there was such a term.

Either way, I do want ZeroHedge to at least know about it so that they can protect themselves if necessary.  I don't know much about these things, I suppose, but I know that what is happening is not fair and is rather offensive.

edit: Not just Hulk.  Another character called JonNadler dressed up like RobotTrader (which is how this whole thing started.  I called him out on it, so he "hulked" my pic after I dared him to.  Like ZH doesn't know who did that...)

Sun, 11/14/2010 - 12:35 | 726072 Hulk
Hulk's picture

This was as easy as lighting up Bravo, LOL !

Sun, 11/14/2010 - 13:33 | 726139 MsCreant
MsCreant's picture

The Hulk does transform, but I thought you were David Banner when you weren't pissed. I just figured we never saw David's picture in there because you are always pissed about the .gov and the Fed. If you'd stop being pissed maybe David could do some good investigative Journalism.

Sun, 11/14/2010 - 14:00 | 726158 Hulk
Hulk's picture

Once I started dealing with the Feds, I never transformed back, the anger never abated... it never will.

http://coburn.senate.gov/public/index.cfm?a=Files.Serve&File_id=8d706bec-eae6-49ba-9b42-c258f655e21e

Sun, 11/14/2010 - 19:11 | 726511 JonNadler
JonNadler's picture

you think I "hulked" your picture?

explain?

Sun, 11/14/2010 - 20:50 | 726669 Minion
Minion's picture

She thinks you're a coat tail riding attention whore who can't make a name for himself without pulling some other jock's pic.......

Sun, 11/14/2010 - 21:15 | 726722 JonNadler
JonNadler's picture

yes, I am riding JonNAdler's coatails in order to bask in his glory, the result of so many great predictions he's made. Can you blame me for imitating such a great ANALyst

Sun, 11/14/2010 - 21:42 | 726772 Minion
Minion's picture

More like swinging from someone else's nutz........

:D

Sun, 11/14/2010 - 22:02 | 726803 JonNadler
JonNadler's picture

yes

Sun, 11/14/2010 - 22:22 | 726823 Minion
Minion's picture

KnobGobbler?

Lol.  I really didn't like robo for a long time because he kept making money while I tried to ride the Doomer train to Dow 1000, with Prechter leading the charge.  :D

Sat, 11/13/2010 - 15:38 | 725067 Fazzie
Fazzie's picture

 Off topic but speaking(rant) of the GM IPO, I posted a comment on a YAHOO AP article they posted on their site regarding (more like touting) the ipo. I didnt swear or anything, but I pointed out the article was obvious propaganda.

 The theme of the article was that the ipo will make the market surge, and also implied the little guy might be lucky to buy some shares before the big boys scarfed em up. This imo was also a common tactic used by marketers to create the illusion of scarcity. Also not a single peep of a very plausible possiblility, if they get the ipo off at all, is the little guy luckily getting his shares just like the big money only to have the rug pulled out with the HFT bandits going from "pump" to "dump" mode in miliseconds.

 Basically the AP was helping tout the ipo with a one sided story, and not reporting news in a neutral manner,imo.

 

  Anyway my comment was met with "internal error" no code given and not posted. However my yahoo mail works fine. Just a glitch or time to don the tin foil hat? Is backtalking the AP considered a breach of terms of service? It could be construed so. So the AP gets to manipulate public perceptions and Yahoo gets to further manipulate the supposed public thoughts on the article and delete comments that question the integrity of the story? Baghdad Bob would be impressed.

 

rant off and back to the topic, sorry.

Sat, 11/13/2010 - 22:12 | 725570 EvlTheCat
EvlTheCat's picture

Fox is doing the same thing now too..  Not so blatent as "internal error" on your comment, but they are searching every comment for key words and blocking anything on the list with "your comment must be approved by a moterator".  I started stripping out what I though the words may be and it finally posted.  I guess Obama is a dirty word.

I have gotten the "internal error" from Yahoo! too.  But then again I hate Yahoo! even more than MSNBC and FOX so when I comment I pretty much preface with "your shitty news site.. etc.. etc..".  I stopped reading there.  Reading their news is like having a threesome with Nancy Pelosi, Barny Frank, and Chris Dodd..

Sun, 11/14/2010 - 00:30 | 725716 merehuman
merehuman's picture

Fazzie, thank you for that. that the beauty of this site. many here shed a little light and yours is also welcome. Its the beauty of this site.

Zerohedge providers...THANK YOU!

Sat, 11/13/2010 - 15:40 | 725076 Stu
Stu's picture

Canadian government can't explain photos of missiles launched from sea near Newfoundland

 

http://deathby1000papercuts.com/2010/11/photo-of-mysterious-missile-launch-over-newfoundland-government-calls-the-incident-unexplained/

 

Sat, 11/13/2010 - 16:47 | 725115 GoinFawr
GoinFawr's picture

Fookin' 'ell Simon! Where ya to b'y!? 'ow's agin ya say "Up the crick"?

Muscles being flexed on either side of the continent...

 

Sat, 11/13/2010 - 15:54 | 725098 SRV - ES339
SRV - ES339's picture

Simply a procedural event prior to a scheduled cabinet shake up... no 'news' here.

Sat, 11/13/2010 - 16:09 | 725117 ThroxxOfVron
ThroxxOfVron's picture

Is Anyone Else expecting a bombshell announcement concerning French Debt and a sudden widening in French Debt CDS?

Sat, 11/13/2010 - 16:13 | 725122 bugs_
bugs_'s picture

Even ze governMENT should not have to work ze 36 hours per week oui?

Sat, 11/13/2010 - 16:50 | 725174 GoinFawr
GoinFawr's picture

Hah, 36 hours/week? Gov't? Riiight. What planet you on, mate?

I don't really think it is correct to call sitting on a spotty behind squeezing blackheads, drinking 6 dollar coffees while stuffing yourself with everyone else's money 'work' anyway...

Sat, 11/13/2010 - 16:17 | 725129 Quinvarius
Quinvarius's picture

Is this a surrender?

Sat, 11/13/2010 - 18:49 | 725319 knukles
knukles's picture

Non.  Eff eet weair surrendeur, zere would bee no answer.  Zees ees onlee ze preparation for zee graceful captiulation aftair we haive taken ze presidencie of ze European Uneon und admonished everuybodie else. 
Phhuttt.

Stupide Americaine.

Sat, 11/13/2010 - 19:58 | 725412 nmewn
nmewn's picture

Le French zeem to be...ow you zay...thin skinned vin de spotlight iz shown in der cornair of ze kitcheon ;-)

Sun, 11/14/2010 - 01:41 | 725770 knukles
knukles's picture

Ah, mais oui, mon ami.
Alors!  Ze multe-tood of dirtee pots ain pahns.
Eet es frighteneeng. 
Eye becom-e scare-ed.

Zey neet eh sear-i-us sens of humour.

Sun, 11/14/2010 - 09:10 | 725915 nmewn
nmewn's picture

"Zey neet eh sear-i-us sens of humour."

LOL...oui oui.

Sun, 11/14/2010 - 10:11 | 725951 knukles
knukles's picture

Youh noh, mon ami, eye do not sinc zat zey un-er-stan ze french sens of hu-more; ze Sartre-tire. 

Sat, 11/13/2010 - 16:48 | 725172 mikjall
mikjall's picture

It means that they reshuffle the cabinet ministers (except that they don't talk about a cabinet). Sarkozy, the President, doesn't go anywhere. The resignation of the "government" (ministers) en masse is a formality that opens the way for the reshuffling.

Sat, 11/13/2010 - 17:17 | 725209 tony bonn
tony bonn's picture

i wish our government would resign and take with them all of those creeps in the non-government supervised terrorist cells known as fusion centers....if you don't know what a fusion center is, you are wrong. hitler must be laughing with delight.

Sat, 11/13/2010 - 19:03 | 725339 DCon
DCon's picture

A Minister in Portugal is touting them leaving the Euro

 

"I believe that the (political) parties understand that the alternative to the situation we confront is eventually leaving the euro," he said. "That is a situation that could inevitably be forced on us by markets to consider."

http://uk.reuters.com/article/idUKTRE6AC1OD20101113

 


Sat, 11/13/2010 - 19:12 | 725351 ihedgemyhedges
ihedgemyhedges's picture

qué demonios continúa en Francia?

Sat, 11/13/2010 - 19:16 | 725356 ihedgemyhedges
ihedgemyhedges's picture

Qui se soucie ? La femme de Frankozy est CHAUDE!

Just trying to mix up a little EURO lingo boys....................

Sat, 11/13/2010 - 20:20 | 725445 Uncle Remus
Uncle Remus's picture

Old Moroccan saying - Do not suffer fools or the French.

Sat, 11/13/2010 - 20:29 | 725446 Threeggg
Threeggg's picture

rheadinz zee idotzis zatz thinkinzee thisis a nonzeventski are funkenzee stupidzee.

Tylerski Duerdenzski isa onlysa sayingtu you azzholees thatherisa a shifski of powerzar inzat frenches arezi underzalotta pressure to hopesee someoneski bails outza ireland (Francski holdza lottsa bondzidiboops) and allze other shit that is on their plates.

A-non-event  ??

ha !

P.S.

The above language is based on the Germnfrechenshipolski ebonics book for dummies !

Adios !

Sat, 11/13/2010 - 21:11 | 725507 Shameful
Shameful's picture

I'll hold judgment but ah' duzn't dink dis be eardshakin' news. Dere gots'ta be some lot mo'e bailouts in de EU. Personally I'm waitin' fo' Italy t'pop t'really brin' de funny. Slap mah fro!

/Done in God's language Jive!  http://www.cs.utexas.edu/users/jbc/home/chef.html

Sat, 11/13/2010 - 21:42 | 725541 trav7777
trav7777's picture

euro positive?

Sat, 11/13/2010 - 23:52 | 725668 Orly
Orly's picture

non.

EURUSD to 1.283.

Sun, 11/14/2010 - 08:35 | 725896 kaiten
kaiten's picture

well, that´s positive

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