Parchment in the Fire

Politics, Political Theory and History

3 reasons why the Socialists are right to revolt against PM Valls’ austerity plan

Originally posted on Revolting Europe:

France’s ruling socialist party is in revolt. A very vocal minority don’t like the austerity plan of new PM Manuel Valls. And they are threatening to vote it down. Here’s 3 reasons why they are right

France’s new prime minister – now three weeks into his job – last week unveiled a swinging austerity plan. Although the mix of measures is different than previous policy announcements, it is essentially the same thrust of economic policy aimed at limiting public deficits to win ‘business competitiveness’ and restore purchasing power to households that has been pursued for a number of years. And they are not working. Economist Christian Chavagneux explains why

Reason #1. Too much austerity kills the possibility of reducing deficits.

France has for several years followed a deliberate policy of reducing its budget deficit. It was 7.9% of gross domestic product (GDP) in 2009 and 4.3% in 2013. This policy…

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French socialist revolt continues

Originally posted on Revolting Europe:

The revolt in France’s socialist party continued this week as details of a fresh austerity plan were unveiled by new Prime Minister Manuel Valls.

Valls has announced a 50 billion euro austerity plan to be funded largely by cuts to pensions, a freeze in public servants’ salaries and cuts to public services.

The announcement was “received as a slap in the face by some Socialist MPs who expected at least a gesture to the left”, L’Humanite reported. However, the majority are expected to back the plan when it goes before parliament next April 30, despite the pounding the party received in local polls late last month amid a tightening of the austerity screw.

In the latest sign of dissent among the ruling party’s ranks, MPs wrote on Wednesday to the Prime Minister describing his austerity plan as “economically dangerous”, saying it would “kill off’” the economic recovery and jobs.

The latest figures released last…

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Wage Development in the European Union

Wage Development in the European Union

Thousands in Paris and Rome protest austerity measures

Thousands in Paris and Rome protest austerity measures

Anti-austerity protests took over parts of Paris and Rome on Saturday, with one demonstration in Rome spurring violence when protesters threw rocks, eggs and firecrackers at police, with at least one person injured.

Rich people rule!

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