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French Socialists Win An Absolute Majority In Parliament
While everyone is focusing on Greece, we have news from France:
- FRENCH SOCIALISTS WIN ABSOLUTE MAJORITY IN PARLIAMENT, CSA SAYS
- FRENCH SOCIALISTS WON 320 SEATS, CSA SAYS; MAJORITY IS 289
- FRENCH SOCIALISTS WON'T NEED TO RELY ON LEFT FRONT, GREENS: CSA
So... does that mean that the recently reduced minimum retirement age wil be cut again, thank you Germany?
More from Reuters:
France voted in a parliamentary run-off on Sunday expected to give President Francois Hollande's Socialist party a majority despite low turnout, strengthening his hand in battles over euro zone crisis policy.
The clear majority that surveys predict, freeing Hollande from reliance on nor eurosceptic hard leftists, as polls suggest, would be a boon as he prepares legislation to pare back the deficit and to ratify an EU fiscal discipline pact.
Initial results will be released at 8 p.m. (1800 GMT), as early results come in from a Greek election where victory for the anti-austerity SYRIZA party could undermine its euro zone membership and send shockwaves through financial markets.
Opinion polls since last Sunday's first round suggest Hollande's Socialists stand a good chance of achieving the 289 seats needed for a majority in the National Assembly, even without adding seats from their allies in the Greens Party.
Added to their control of the Senate and the presidency, that would give the Socialists more power than they have ever held and should leave Hollande's largely social democratic and pro-Europe cabinet broadly intact.
The possible entry of Marine Le Pen's far-right National Front into parliament for the first time since the mid-1980s with up to three seats would be no more than an irritation.
But the Socialists have been concerned that low turnout might weigh on their score. Turnout at 5 p.m. was 46.2 percent, 3 percentage points down on the 2007 election and below that of last Sunday, when the final turnout hit a new low at 57 percent.
"I hope the Socialists get a majority. It's got to be better than power-sharing: at least they will be able to get something done," said Philippe Jauseau, 47, a computer engineer voting in Paris.
Hollande will fly to Mexico on Monday for the first of a flurry of summits. His decision to side with southern nations weary of austerity has opened a rift with Europe's paymaster Germany that the Socialist needs to fix fast.
"This vote is important. We need someone who can sort this mess out," said Michele, 59, a bakery employee who said her main concern was the underfunded pension system. "It'll be my turn in a few years. I want to know if I'll be able to live decently."
Hollande's chief ministers, including Prime Minister Jean-Marc Ayrault, were elected in round one by scoring more than 50 percent of votes. Those in run-off contests, such as Finance Minister Pierre Moscovici, are expected to win their seats.
Hollande's former partner Segolene Royal faces an uphill battle in the western city of La Rochelle against a popular dissident Socialist candidate.
In all, 36 deputies were elected outright last weekend and 541 constituencies are up for grabs on Sunday.
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Hello,
Petite précision, Hollande n'est pas socialiste.
France seeks 120B EU package
http://www.torontosun.com/2012/06/16/france-seeks-120b-eu-package
I guess Greece, Spain, Ireland ect will be helping fund France's socialists with the money they get from French and German banks.
US Federal Debt – Problem Solved
The American government has been spending trillions of dollars on programs it had no Constitutional authority to create, and such unconstitutional expenditures exceed the amount of the federal debt. Therefore,
Not only are most government programs themselves unconstitutional, but the debt used to pay for these unconstitutional programs, which were created by previous taxpayers, is paid for by future taxpayers. Therefore,
Taxation without representation is also unconstitutional. In fact, it is the reason America seceded from the British empire.
Given that the US Constitution is pretty simple, then anyone who loaned money to the US government should have known that they were loaning money to a fraudulent and illegitimate enterprise and thus should not expect repayment.
Of course, there would be a huge consequence – no one would be willing to loan money to the US government again until it started obeying the Constitution, which would be ...
Good!
Every nation in history that has instituted a retirement system has failed in misery. The unmistakable message is that kids don't matter for you old age, the state will take care of you. We know where that leads.
Every nation in history has failed miserably eventually.
Conversely, nations with no retirement system have not been notably more successful - Somalia? Haiti?
Retirement systems are easily paid for with inflation when it becomes necessary and I can't think of any instance where they have caused government collapse so far. Example - Russia, you still get your pension but it's only worth about $20 a month.
...and tomorrow, France's bonds tank and interest rates begin to rise to the same levels as Spain, Greece, etc.
@Future Jim. You are dead right. And this is the way the problems worldwide get resolved, short of hyperinflation. Politicians and crooked bankers have been loading the ship of state with more and more debt, for themselves and their crony friend and the vote buying. All people loaning money to this instead of productive private sector enterprises deserve to lose money for supporting such morally corrupt, fiscally inefficient leeches.
What's corrupt on spending money on healthcare and retirement for everyone? Rather run up debts for that then Iraq/Afghanistan.
The Greeks may get a leg up over the French....they got a head start on withdrawing their Euros....nothing wrong with a bank run if you're first in line ! Wag the dog Greece is getting a lot of play at the Euro-Casino ! Monedas 1929 There's never enough gold and there's never enough cash ! Paper filth trumps electronic money ! Is it obvious that I'd give anthing to be able to provoke the panic ? I am so ready for chaos ! I want to see a soup line in the rain where I can drive down the gutter and splash 'em all in my Hummer gas hog with Obama/Biden bumper stickers ! PS: BTW drippy female CNN reporterettes....there are no innocent people in Syria....even the kids are sons of Muslim Brotherhood scum bags !
sarkozy + hollande = the same old jewish merd
liar blair + brown + dim cameron = same old bankercock sucking money grabbing satanic wankers
bush+clinton+ bushobama = same old shit wid a different hue...
Rally warning continues...
SPX bullish daily chart strengthened further on Friday & more rally expected.
DOW initial target approx 13,170 & more upside after that.
MORE:
http://www.zerohedge.com/news/2012-12-24/market-analysis
And there was much rejoicing. In France that is. Because now they can better force fiscal and financial union down the throat of the norhtern European countries in order to fill up their own pensionfunds. Merci, suckers.
with france and germany playing from 2 differnet songbooks nonon the rest of theshit in Europe matters, the dance is fucken over
France just joined the south.
Somewhere in France tonight sleeps The Great Catholic Monarch.
He will clean-up not only France, but all of Europe for many decades to come.