Unfunded

The Eurointelligence Podcast

Wolfgang Munchau

News, Eu, European Politics, Political Economy, Italy, Brexit, Recovery Fund, Political Risk, Business, European Union, Netherlands, Ecb, Economics, Uk, Fiscal Union, Government, Transatlantic Relations, European Integration, France, Geopolitics, Eurozone, Banking, China, Spain, Germany, Political Union, Politics, Trade, Eu-china

4.5 • 30 Ratings

🗓️ 22 June 2024

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

In our latest podcast, our teams discusses one important aspect of the French elections - the choice between three unfunded and unsustainable fiscal policies.

Transcript

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0:00.0	Welcome to the Eurointelligence podcast. I'm Wolfgang Munchau and with me, Azizana, Munchank and Jack Smith.
0:06.9	Today we'll talk about France again. In our last podcast, but one, France, it was just after the
0:13.1	European election, Emmanuel Macron, dissolved the French National Assembly. At the time, we're
0:18.8	still debating the riskiness of that maneuver.
0:21.6	Ten days have passed since, and we have some of the answers. This maneuver has indeed
0:26.6	turned out to be very risky indeed. We've had a number of new important developments, both on the
0:32.6	right and the left, and also on the center. Parties have also presented their fiscal programs. We don't like the look of it of what we saw so far.
0:41.3	All these are subjects we will discuss in our podcast today. Jack, can you just get us up to date with what you think are the main political events that have taken place in the last 10 days?
0:53.2	There are kind of two political events that have taken place in the last 10 days. There are kind of two political events that have taken place in the last 10 days.
0:56.2	The least consequential, but frankly the funniest one, was Labour Republican massively imploding
1:02.4	last week.
1:03.4	So that's the kind of all-Golist center right party that Nicolas Sarkozy and various other
1:08.2	former French presidents have belonged to in different forms.
1:24.7	They basically fell apart because their leader, Eric Chioti, decided that he wanted to form a pact with Rézumlement Nacional, so Marine Le Penz party, of course, without really consulting any of the other senior members of the party, it seemed.
1:31.7	So what you have was all the other senior members of the party coming out saying, we do not want this. And then, you know, trying to get rid of Chiati,
1:37.3	Chati saying, you can't get rid of me, barricading himself in his office, and then basically forcing a kind of court decision which said that the procedure to remove him was not legal and he
1:42.1	could stay in charge of LeBribe Republican after all.
1:44.6	The net result of this is that LeBriacan have split into two factions.
1:48.3	One faction which does not support a pact with Rézombele-Nassionel and another faction which
1:54.5	does.
1:55.3	But that's the less consequential of the two developments.
1:57.5	The more consequential of the two developments, which happened last week, was four different left-wing parties and central left parties in France agreeing on a common
	...

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