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French national sales “les soldes” start Jan. 11, but are they losing energy?

January 10th, 2012 No comments

Think you had enough shopping done during the Christmas holiday?

The French are getting ready for the national sales around France.

They kick off tomorrow January 11 throughout the country, and you can see a full list of dates here for each département (Paris being the 75th on the list).

You’ll see many départements have sales until February 14, just in time for Valentine’s Day.

Background
The French government authorizes stores to use the word “les soldes” as an official sales period twice a year (January and July) to foster economic growth and consumption.

Stores are free to have discounts, special offers and promotions throughout the rest of the year, but they cannot use “les soldes” as an expression outside of these two time periods.
Tomorrow Economic Minister François Baroin will be the MC of the traditional kick-off of the sales period at Galeries Lafayette.

Economic uncertainty?
Despite all the pomp and festivitives, a new poll done by l’Institut BVA and published by Les Echos newspaper reveals that 36% of French consumers think that the national sales do not have a real purpose any more, and this is even more pronounced among younger consumers.

While the sales might be less trendy than last year, and this drop in enthusiasm may be explained by economic uncertainty, 60% of the French still believe that these periods present special opportunities for good deals.

If you do choose to shop, make sure to remember that prices will generally decrease as the time period goes on (up to 80% off in some cases by the end), but that the best items will likely be gone.

You may also want to check out this page for more links and information on fashion and shopping.

Happy Shopping!

Christine Lagarde elected head of IMF: American reaction

BBC/AFP: Christine Lagarde will start her five-year term at the IMF on 5 July

As former French Finance Minister has been named IMF head, effective July 5th, and François Baroin has been named her replacement, Le Figaro has an interesting article on Christine Lagarde from an American perspective, as well as a longer article into her path that lead her to Washington.

Meanwhile, she appeared in 2009 on the Daily Show with Jon Stewart. Check it out here.

Bonjour Paris: Sarkozy’s new cabinet

November 20th, 2010 No comments

In this week’s Bonjour Paris, a great resource, I write a piece analyzing French President Nicolas Sarkozy’s new cabinet after the reshuffling. It talks about changes, Prime Minister François Fillon, the French economy, Bettencourt scandal, Sarkozy’s 10 big challenges for the remainder of his administration and 2011 Senate elections and 2012 presidential election. Excerpts below.

Just an FYI: there are strikes planned for Nov. 23 against the now lost-cause of retirement reform, but they are not expected to cause much disruption. Nonetheless I will update my blog Nov. 22 with any relevant information.

As promised, President Nicolas Sarkozy finally carried out the long-awaited reshuffling of his cabinet. This is a traditional move by French presidents during their administrations, regarded as an effort to regain popularity and credibility after facing approval-rating problems. Mr. Sarkozy has certainly had those.

The Economist cites a poll by Ifop that puts Sarkozy’s approval rating at 36% and that of Prime Minister François Fillon at 55%. This is one principal reason Fillon was kept in office – defying the modern trend of presidents changing prime ministers once or twice per administration. In fact, as the same article notes: “If he keeps his job until 2012, M. Fillon will become the first prime minister in modern times to have survived a president’s entire term.” This is due in part because “his calm, reassuring style makes him the antidote to the hyperkinetic president.”

So the fact that Fillon stayed on makes this both an uneventful reshuffling and an exceptional one. You can see a group photograph and learn the names of all cabinet members on the Elysée website here. You can also read coverage of it in the New York Times. Some of the most notable changes come at Defense Minister (old: Hervé Morin; new: Alain Juppé) and Foreign Minister (old: Bernard Kouchner; new: Michèle Alliot-Marie). Overall, it is a government that is more right of center, and one of the most unsurprising changes was at Budget Minister, where François Baroin replaced Eric Woerth. Woerth had been entangled in the Bettencourt scandal. But Nicolas Sarkozy supported him fully in a speech to France about his reshuffling.

Sarkozy will face 10 big challenges during the second half of his term, according to weekly Le Point: strengthening his UMP party unity for 2012; regaining approval ratings; keeping the French Senate to the right (Senatorial elections are in September 2011 and could swing left); reforming fiscal policy; financing aid for the elderly; supporting employment; improving France’s image abroad; getting support from students and the youth with convincing plans; and mastering the internet.

For more information, The Economist has quality coverage of this event. France 24 also covers it.

The challenge now is implementing further reforms – on the heels of the unpopular retirement pension reform now law – to improve the French economy while remaining popular enough to have a chance at reelection in 2012. But there are already many candidates from several parties waiting in the wings, most notably IMF head and Socialist Dominique Strauss-Kahn and former Prime Minister conservative Dominique de Villepin.

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