THE WEEK THAT WAS... (July 15, 2013)

Once, France and Germany were the engines of European integration. France had the political lead and Germany the economic one. But that is over now; Angela Merkel has both reins in her mighty hands.

What is wrong with France? It can’t be better described than the melancholic way Roger Cohen did in the New York Times. “The country’s manicured capital, impeccable motorways, glorious food, superb medicine, good education, immense beauty, the only wine worth drinking, seductive scents and deep-rooted savoir- vivre provide a compelling image of wealth and tradition. But just as the golden statuary on the bridges of Paris distracts the eye of the homeless sleeping beneath the arches, so the beauty of France tends to mask what amounts to a kernel of despair’.

Look what happened Sunday July 14, France’s historical day of glory, with military parades on the Champs Elysees in Paris and fireworks in every commune in the country. An English cyclist named Froome won the stage of de Tour de France. And it was not an ordinary stage but one that ended on top of the magic Mont Ventoux. Good sports the French, one of the big newspapers headed this morning ‘Vraiment Froomidable’; another one ‘L’impressionant Mr. Froome’.

Less enthusiastic were the comments on French President Hollande’s television address to the nation on July 14. He announced with his usual aplomb that the French recession will soon come to an end and that recovery of the economy will be there. Hollande’s attempt to convince his compatriots failed. The editorials missed engagement of the President, no new policies or measures were mentioned. Many French economists dared to doubt that recovery of the economy will happen soon. The malaise can’t be beaten with words, not even words of a President.