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What Reforms: Hours After ECB's QE Announcement, French Government Fails To Reach Job Creation Agreement
Remember when just a few short hours ago, the ECB's Mario Draghi said that under no circumstances should the ECB's historic launch of QE be taken by anyone as a substitute for legitimate fiscal and other labor reform: as in the one thing the continent that has youth unemployment higher than 50% in various nations truly needs, instead of a Dax at record highs? Well, we are happy to report that just hours after the launch of QE, French trade unions and employer groups failed to reach agreement in a final bid to spur job creation in a moribund market by simplifying rules on worker representation in firms, the government and unions said.
From Reuters:
Socialist President Francois Hollande had asked the parties to strike a deal by end-2014 to lift bureaucratic "blockages" to hiring, including rules that force companies to pay for in-house works councils and health and safety committees once they hire their 50th worker.
"Today's plenary confirmed the end of negotiations, and thus their failure," a source from one of the employer groups said. Economists have long pointed to excessive bureaucracy as a major in France's high unemployment rate, currently stuck above 10 percent.
Prime Minister Manuel Valls said in a statement that "necessary compromises" should have been possible in the talks. "However, the absence of an agreement cannot amount to an obstacle to reform to take the country forward," Valls said. "It is now up to the government to take on the modernisation of social dialogue in business."
He added that he would hold a meeting of the various parties on Feb. 19 to discuss the next steps.
At that meeting nothing is expected to happen either, because thanks to Mario Draghi, Europe's politicians just bought themselves a few more months in which they can continue their path of clueless incompetence and corruption, all of which is of course blamed on "austerity."
However, Valls probably should advise the French impoverished workers, at least those who still have a job, to do the one thing that QE does fix each and every time, if only until the central bank runs out of bonds to monetize: just BTFD.
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France, of all countries, should know that such "let the majoroty eat cake" monetary experiments never end well.
Has anyone asked Mario what will be different this time or will this simply be more free money to the bankers and financiers of the world?
https://www.youtube.com/watch?v=9YsTcGopuSM
< Only governments can create jobs.
< Govenrments can only destroy jobs.
It's all Bullshit!!!
Je Suis UNEMPLOYED!!
Je suis au chômage
OT...
Saw an article about drug traffickers using drones to send drugs across the border. A crashed drone was "caught" in Tijuana.
http://www.bloomberg.com/news/2015-01-22/mexican-meth-bearing-drone-cras...
we don't need no steenking jobs. just lever up and btfd bitchez.
Damn right! Jobs are for suckers!!
Everyone should day trade. I do, and I've made billions trading penny stocks! Let me show you how!
dickponey.com
Sorry, site is blocked on my comp - listed as same gender inter-species erotica
Damn skippy! Jobs now a days are a temporary and unprofitable nuscience...
We will start with Italy and Spain. We will order rating agencies to attack, exclude them from markets and throw them to the ECB trap. They will be forced to take similar measures, as Greece did, in order to receive liquidity. Then, we will attack France and Germany.
Low interest rates reward debtors. Wealth flows to lenders.
High interest rates reward savers. Wealth flows to savers.
So desparate central banks and banks in general are they lend now at negative rates.
ever notice the markets get to set the price on everything BUT the central bank interest rates are manipulated forever.
This is nothing more than asset removal from the masses to create a class of slaves via interest rates. Like the IMF putting a condition on lending back Ukraine's own money that they clear Eastern Ukraine of Russian Separatists?! So now gramps has to be drafted to get cut down by a machine gun at the order of a international bank.?
Iceland will be the only solution. Ukraine needs to shoot or arrest their new heads in their own government and arrest their central bank leaders and start real independent movement
Mon Dieu!
Why would corporations getting free money from central banks while off-shoring production want to take on the burden of local workers who want to be paid a living wage and not work in a Foxconn suicide penitentiary?
ECB QE is not about job creation. See: US...
The ones that get the money are all in Davos. That's how that works...
The world has just become one great big EBT market.
Run by JP Morgan Sachs.
We have that also in Belgium...
And now you even need to hire a anti burnout coach for your staff once you hit 50...
work councels, safety councels, ombuds resonsible, anti teasing, anti burnout... that paperwork is killing companies.
And if you’re iso certified shit becomes even more real.
Anti-burnout coach... *mind essplodes*
Moar QE for Moar regulation for Moar jobs. "It'll work guys, we promise!"
"It's better to burnout, than to fade away.
My, my, hey hey."
Its 7 second abs goddamit! Not 6!
"7 little chipmunks twirling on a branch, eating lots of sunflowers on your Uncles ranch" You know? Its clearly brie time baby, and here you are talking gorgonzola!
Europeans you have been abandoned by the banking system. Pull your money and your power out of the EU now!
And welcome to the USSA.
They create 2500 jobs to follow 3000 potential terrotists around. What more job creation do you need?
The answer is simple. Import more Muzzies.
European unemployed today are soldiers of the World War III tomorrow. We shall call them the "Last Generation ever."
!Paris! - underperforming, year-after-year, since 1812.
Gotta hand it to such a consistent record.
You're jumping the gun. This is still a preliminary round before final talks.
They are baiting each other like wrestlers : "Je t'aime moi non plus"...
The government will call time out in due course. Usual histrionics
QE aka pulling trillions out your ass and giving it to your mates,