Liberte, Egalite, Fraternite? Non!

by | 17 Apr, 2019

Liberte, Egalite, Fraternite? Non!

Well, that’s what the gilets jaunes have been protesting about in France these past few months. And that is why President Emmanuel Macron instigated the Great National Debate. He’s listened to the people and now he has to come up with the plat du jour.

The world is seething with populist anger over ever-widening income gaps between the uber-rich elite and everyone else, and France isn’t an exception. For a country whose republic foundations are meant to focus on social equality, it lags behind other big players. According to the World Bank it has less economic equality (egalite) than the US, Canada, UK. Its inequalities are apparent between urban and rural communities, full-time and part-time employees, education and what is perceived as the divine right of  state pension – something that the younger generations are being excluded from. So social unrest is not an unexpected outcome. To defuse tensions on the streets, Macron set up the Great National Debate, whereby he toured town halls to listen to people’s issues and collected feedback from a ‘book of grievances’. As expected, the consensus centres around three key issues: taxation, public services and climate change. 

President Macron was to give his response to the republic on Monday evening. However, the upsetting site of Notre Dame going up in flames meant he had to postpone his television broadcast. Could the fire be a foreboding of how he is going to solve the people’s concerns and the stale state of the French economy? His problem is that France is severely constrained in its ability to solve matters alone as it’s tied to the Euro currency – running further deficits to improve social spending is a Non! He has already raised taxes from the middle classes, leaving him, realistically, with little option but to tax his buddy elite. As an ex investment banker, Macron may find it hard to swallow that particular oyster.  

Never ask for whom the bell (of Notre Dame) tolls; it toll for thee, France! 

All emails include an unsubscribe link. You can opt-out at any time. ​See our privacy policy.

ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

Download on the App Store           Download on Google Play

ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

 

Share This