The only way is down ...

I went to University in September 1979 in the near aftermath of Margaret Thatcher's first election victory. The most popular badges in my first (and probably second) year were variants of "Don't Blame Me - I Didn't Vote For Her".

It was an interesting time ("Interesting" as in the British sense of the word - odd, difficult, challenging - rather than the French sense of the word - attractive, encouraging, desirable).

But at least, for better and often worse, you felt you knew where you were with Margaret Thatcher and the effects of that period still define many of the differences between Britain and France.

Fast forward 28 years to the near aftermath of Nicolas Sarkozy's election as President of the French Republic. I was on my way into the Paris office and was picked up from Charles de Gaulle by a woman taxi driver who, after asking me if I was English, then asked me what I thought of M. Sarkozy.

She then treated me to a 40 minute exposition on how Nicolas Sarkozy had, simply had, to introduce the same labour market changes as Margaret Thatcher had; how he had to abolish the 35 hour week; stop people retiring at 60; reduce benefit payments and free up self-employed people (like her) to generate wealth. I wonder sometimes if she is still driving and, if so, what her line of conversation is today with Brits arriving at the airport.

On to 2012 and the near aftermath of Francois Hollande's election - M. Normal as he styled himself. On the way to hockey I quizzed the other guys in the car on what they thought of their new president, I'll use initials to protect the innocent ..... A (an accountant) said "we might as well leave the country, if we stay it'll be higher taxes and more higher taxes and an economic recession. What's it like in England". D (an electrical technician) exploded in a stream of invective using a number of words I had to write down and look up afterwards (most weren't in my dictionary ....) - they weren't complimentary.

I made an effort to watch M. Hollande's press conference live today on French TV, he seemed to have arrived directly from riding the infamous motorbike :

Most of my French acquiantances seem to be very fatalistic about the situation, they don't think anything will change and the President's words are just that, words. 

A few items from my point of view about the most covered French language news conference in history:

• How is the "Responsibility Pact" with employers going to work, tax cuts for new jobs is an interesting idea but it still needs the dead hand of the state to be involved.
• Unemployment is a critical issue, specific high-profile government measures can't make the same impact that a growing economy would
• €50Bn cut in government expenditure - really? Where's that going to come from in a country that is still wedded to the government spending 57% of the GDP?
• And batting away the timid "Private Life" questions from the demure French press, just when the French need a President focussed on the economy and growth the story is lost in the "Guess who is the First Lady this week" question.

 I'm able to watch all this with a certain degree of detachment, give or take a few euros of tax on the margins - I'm happy to pay for M. Hollande's morning croissants - we're happily largely isolated from the state of the French economy. But this is a great country and its people need great leadership just now.