France

The Robin Hood tax has galloped into France, and once again Britain is being pressured to introduce the same thing in its financial sector. It’s a thankless job defending the City at the moment, what with UK banks mired in one scandal after another and Libor-gate still unresolved, but the UK must stand firm in rejecting a tax that, in the words of George Osborne, would be ‘economic suicide for Britain’. François Hollande has slapped a 0.2 per cent levy on share trading in France, a precursor to a wider European law. Technically a financial transactions tax, ‘Robin Hood’ taxes are so-called because they aim to redistribute wealth from the

Two bits of interesting news yesterday: 1. France – while the eurozone is in financial meltdown – is allowing some of its workers to retire early; 2. China – while the eurozone is in financial meltdown – is on a shopping spree, buying European assets on the cheap. Perhaps there we have, in a nutshell, the pattern of what is to follow in the coming months. Francois Hollande’s lowering of the pension age by two years to 60 applies to only a small class of workers, but it appears to be just the start of a slew of changes to employment laws — today, his government announced it would make

What a strange place Britain has become. You sometimes need some time away to realise quite how strange. Take yesterday’s main story: the latest paedophile rape-gang case from the north of England. The judge in the trial told the men, during sentencing, that they had selected their victims ‘because they were not part of your community or religion’. But that is the sort of fact which causes the most terrible contortions in modern Britain. The perpetrators were all Muslim men of Pakistani origin and the victims all underage, white girls. We know exactly how we should think, how loud would be our proclamations and our desire to analyse the ‘root-causes’

We’ve grown so used to regarding Ed and David Miliband as mutual nemeses that it’s strange to see them operating as a tag team today. The younger brother has delivered a fiery attack on the ‘unfairness and economic failure’ of the coalition, while the elder brother has an article in the Mirror arguing that the government is ‘Wrong about how to grow the economy in the modern world’. There’s also another article by the latter in the Times (£), just in case you haven’t had your fill of MiliCommentary. Much of what they say is unsurprising, but some things do stand out from their twin attacks nonetheless. The first is

There was a sense of urgency, even emergency, in many countries on May 1 this year. The goings-on in the UK were muted in comparison: France Presidential incumbent Nicolas Sarkozy staged a rally in front of the Eiffel Tower called ‘The Feast of Real Work’, to counter the traditional show of heft by the left. ‘Put down the red flag and serve France!’ he shouted to the unions. His campaign claims a turnout of 200,000. The left was irritated by Sarkozy’s hijack of their celebration, and his insinuation that they don’t understand what work is. The far right, led by a scornful Marine Le Pen fresh from rejecting an overture

The best explanation I have seen for why François Hollande should be ranked as the favourite for the French presidency going into the final round comes from the Rue 89 blog. Here, courtesy of a friend who speaks far better French than I, is the key part of the argument: ‘There are no scenarios that lead to a Sarkozy victory. We generously assumed that 50 per cent of Bayrou’s first round votes would go to Sarkozy, with only 20 per cent going to Hollande and 30 per cent abstaining (whereas the latest polls suggest the centrist electorate was divided into three approximately equal parts between these three positions). We also