France

  • 05 Dec 2013 at 3:33 PM

China Identifies Real Threat To Global Stability

Pay no attention to unilaterally-instituted no-fly-without-permission zones or alleged violations of human rights. In fact, just ignore Joe Biden entirely, please. Read more »

  • 12 Nov 2013 at 3:48 PM

Larry Fink Puts Euro In His Ten-Year Death Pool

The euro could be in danger of disappearing within the next decade if France does not continue pushing economic reforms, BlackRock Capital boss Larry Fink said Tuesday. Fink expressed his concern about the health of one of Europe’s largest economies at The New York Times’s DealBook Conference, mentioning France’s recent downgrade by Standard & Poor’s. “I don’t think in 10 years time we can have a euro if we don’t have a strong France and a strong Germany,” he said in an interview shown on CNBC. “It’s all predicated on two very strong countries and the competitiveness of France is still deteriorating.” [CNBC]

  • 29 Jul 2013 at 2:43 PM

Sovereign Defaulters Can Always Count On France

American and the IMF have abandoned Argentina in her holy war to avoid paying her bills. But the French remain steadfast, and will undoubtedly tip John Roberts’ scales in favor of the Argentine government. Read more »

Nobody’s trying to put Paul Singer in jail—yet—but the Elliott Management chief has had to disclose an insider-trading probe to his investors. Read more »

  • 12 Dec 2012 at 2:40 PM

Layoffs Watch ’12: Crédit Agricole

Zee French are considering some sackings in the new year. Read more »

This news brought to you by former International Monetary Fund chief-turned-alleged aggravated pimp Dominique Strauss-Kahn.

  • 17 Jan 2012 at 11:58 AM

Europe Needs A Better Blender

I guess we should talk about Europe and credit ratings. Now France isn’t AAA and Italy isn’t A and Portugal isn’t investment grade and here is something that someone at S&P actually said:

Our role is to give timely information to investors and if you give them timely information, if you give it to them in modest increments, then we think that they can make their own judgments about how they are going to allocate their portfolios.

Really! That could be S&P’s motto, “timely information, but in modest increments. Also not really that timely.”

If you’re into this sort of thing, though, the action is not in France so much as it is in the European Financial Stability Facility. The EFSF is basically, France and Germany and the other eurozone countries issue a bunch of debt*, put it into a blender, pulse until smooth, and then issue it as “EFSF debt.” The EFSF gets the money and uses it to prop up Greece, buy Italian bonds, etc. Because all the things are also all the other things, people saw this and were like:

1. Hey, that’s a CDO!
2. CDOs suck boo etc.

Here’s what the EFSF had to say about those claims:
Read more »