Sarkozy's royal visit to the Queen

France and Britain are engaging in an ancient exercise this week: dazzling one-another. The occasion is Nicolas Sarkozy's first state visit to Britain. The current monarch of the Fifth Republic arrives on Wednesday with Carla Bruni and a glittering retinue to stay with Queen Elizabeth II at Windsor Castle, west of London.

For nearly 800 years, the English and French took out their rivalry on battlefields in Europe and then around the world. But admiration was always part of the old enmity, with each side envying the other's superior qualities. The frogs had more style, refinement and dash. Seen from the other side, the perfidious rosbifs were a  stodgy bunch with an infuriating habit of getting their way.

The feuding cousins last fought at Waterloo in 1815 and they officially became friends with the Entente Cordiale accord in 1904, but the rivalry and admiration never faded. State visits -- meaning the full pomp with military salutes and palace banquets -- are an excellent occasion for staging the old contest and both sides are again out to impress the other, in a friendly way of course.

Just like French kings before him, Sarko wants to dazzle the down-to-earth Anglais.

  Unlike Gordon Brown, the British Prime Minister, Sarko I is not just chief executive but head of state, equal to the Queen. He is coming with a glamorous entourage. As well as his beautiful new consort, he will have in tow Rachida Dati, the stylish Justice Minister. She appeared at a Paris state banquet last month in a long Dior outfit slit to her thigh. Rama Yade, the black, 31-year-old Human Rights Minister with model-like looks, will be in the party, along with nine other cabinet members. Sarko's formidable mother Andrée will also be there, keeping an eye on her son.
 
Britain, which does pageantry like no-one else, is pulling out all the stops for the first state visit by a French leader since Jacques Chirac in 1996. In private, Sarko's people are a little in awe at the majestic welcome that awaits them. They are impressed that the Queen, who receives two state visitors a year, has given them the rare honour of a stay at Windsor rather than Buckingham palace. "We gather that it's quite impressive," one of Sarko's most senior advisers told us at a briefing (I can't name him because it was off the record). "We will do everything to be à la hauteur britannique", he said.

This will include, we are told, a curtsy before the Queen by Carla Bruni [language note: curtsy comes from the old French courtoisie but the un-republican formality that women are supposed to perform before her majesty is known in modern French as une révérence]. There is no question that state festivities at the Elysée Palace, which resembles a fading grand hotel, cannot compete with the grandeur of British pomp. Chirac's state banquet for the Queen at the Elysée in 2004 felt like a Rotary club ball, but perhaps that was because they had invited journalists.
   
Sarkozy is counting on the trip to repair his battered image at home. This is a chance to play presidential and he will be on his best behaviour to avoid protocol gaffes of the kind that would be pounced on by the merciless British media. We can be sure that he will restrain his mobile phone habit. His biggest handicap is his lack of English. Gordon Brown speaks no French but Britons remember that Tony Blair addressed the Paris National Assembly in French. Sarkozy is making his speech to a joint session of Parliament in French only.

State visits may be heavy on form, but they are useful for re-centering the prickly alliance between the old powers. Away from the ceremonies, the two governments are holding a working session at Arsenal stadium -- a good symbol because the football club owes its success to French star players. 

Sarkozy wants to expand the London-Paris link to compensate for the decline of the "Franco-German" motor that used to be the heart of the European Union. Sarko does not get on with Angela Merkel, the German chancellor, who has just scuppered his plan for a French-led union of Mediterranean nations. "The motor may still be Franco-German but it is not powerful enough," said Sarkozy's adviser. "We are hoping for une nouvelle fraternité with Great Britain." 

That translates firstly as more cooperation in military matters. France and Britain are still the two military powers of Europe, accounting for nearly half the defence spending of the 27-nation Union. Sarkozy, though still devoted to France's nuclear independence, wants to do more in the Nato alliance. He is expected to make a gesture by sending an extra thousand or so French troops to the Nato operation in Afghanistan.

Sarkozy's relations with Brown are all right but nowhere as warm as they are with Blair, who he considers a friend. But personalities are not everything. Both governments are realists and make no bones about the eternal frictions between the old couple -- and the mutual admiration. . "Vive la différence. Thank heaven, we are not the same," said Sarkozy's adviser.

Comments

[Romain]

I am afraid you have unmasked your friend advisor with his "Thank Heaven" : Maurice Chevalier (lol)

[dot king]

I trust Carlita will not say "ouistiti sex" for official photos - at least in Her Madge's hearing.

The attached link is for amusement - not a political statement in any direction. Those nostalgic for Jilted John will like it . . .

http://www.youtube.com/watch?v=P_pf1sACEkU

[Monika]

"Sarkozy wants to expand the London-Paris link to compensate for the decline of the "Franco-German" motor that used to be the heart of the European Union. Sarko does not get on with Angela Merkel, the German chancellor, who has just scuppered his plan for a French-led union of Mediterranean nations."

From this side of the Rhine (to use a phrase common in French to refer to Germany or France; another possibility for describing Germany: "outre-Rhin" ^^), it rather looks like that Sarko doesn't care about the French-German motor. In the past, there'd been always different point of views but both sides were willing to work it out until a common point of attitude was found. But it seems that this is no longer the mode de travail. Since Sarko is in power we see new initiatives thrown out without consideration of their impact on EU members and that there's little wish for compromise. Obviously Sarkofrance is looking for a new partner in the hope of achieving a powerful position of France within Europe without having to make too much compromise.

Anyhow, it was quite clear from the start that Sarko will play as a free electron within Europe and that there'll be little concertation with the partners. It doesn't make Sarkofrance appear as a reliable partner.

[Donald]

["[Sarkozy] is expected to make a gesture by sending an extra thousand or so French troops to the Nato operation in Afghanistan." CB]

This is his idea of a "gesture"! Something like leaving the waiter a 10 centimes tip! More of an insult than a "gesture". And will the French actually be willing to have their troops do some real fighting to help out the Canadians and the Americans in the South of Afghanistan instead of keeping them in the middle and north where almost nothing is going on?

The British do pomp better than anyone else, by far. If the Elysée Palace resembles a "fading grand hotel", which it does, a White House dinner must seem like eating out in a bristro! [lol]

[Dominique]

Monika says

"It doesn't make Sarkofrance appear as a reliable partner".

Reliable to what? There is often a german view, considering that the true european vision is the german one. The truth is, seen from the west side of the Rhine, that Germany appears more and more like a country that opposes french european views and projects (central bank, Mediterranean, industrial politics, strengh of the Euro etc...). The result is of course a shift of France toward other partners. Germany can go on believing it hold the truth, but i dont see why the french view should be seen as less legitimate than the german one. The problem with this, is that there will be no end to the split and the already started deconstruction of Europe.

Why shouldn't we say "It doesn't make Merkeland appear as a reliable partner"?

Il faut être deux pour danser le tango. Il faut aussi être deux pour ne pas y arriver.

[Mary Fernandez]

"Sarko I is not just chief executive but head of state, equal to the Queen."

Head of State, maybe. Equal to the Queen? Not in his wildest dreams!

[Romain]

Dot King
I found the version of "Je t'aime" by Bourvil and Jacqueline Maillan.
Maybe Nicolas and Angela should...

http://www.dailymotion.com/video/x3y4h0_bourvil-et-maillan-ca_fun

[dot king]

ROMAIN - enjoyed that - thanks - both spoofs are better than the original IMO - even funnier at least. Once i'd translated the original to "you go and you come between my kidneys" there was nothing sexy about it at all!

MARY FERNANDEZ - yes, that was my reaction when I saw it, Sarkozy equal to the Queen? Not on your Nelly!

[Monika]

@Dominique,

it is true that those most Sarkozian ideas weren't quite welcome to Germany, but may I remember you, not Germany alone.

Of course Chirac had some of his own, for instance concerning interest rates for the ECB. But do I have to remember you that France together with all other countries using the Euro commited themselves to keep the ECB independent. Shall I remember you that Trichet who is French was absolutely against Chiracs proposal?

Many ideas you cite (like that for weakening the euro) have been election campaign ideas to play on the nerves of the electorate. It was en vogue to blame Europe for own problems (that France is a bad exporter in the case of the high interest rates of the ECB. They simply forgot to tell that France was a bad exporter well before the Euro went strong, that is when the dollar went weak).

[Valentin]

Monika:

"Many ideas you cite (like that for weakening the euro) have been election campaign ideas to play on the nerves of the electorate."

Many took those ideas quite seriously, the issues with EU were quite precisely identified, not simple populisms.
France supported the idea of an independent ECB - that's not the problem; the ECB should also use its independence to promote sensible policies and be reactive to the real world economy (the Fed's reactivity is a good example, their interest rate can go from 6% to 1% in a matter of months). Or when the ECB behaves like a mammoth, in total disconnection with today's fluid world, and its behaviour starts to have direct consequences on national economies, politicians are in their right to try and wake up the mammoth. And that's just one example amongst many.

[Valentin]

Donald:
"Something like leaving the waiter a 10 centimes tip! "

Given the situation in Afghanistan and the US army, the US are likely to chant Glory Hallelujah for any single soldier someone else would send to help, I suspect.
One could also note that after sending hundreds of thousands of soldiers and spending a trillion on a totally useless (let alone selfish) war in Iraq, it's rather funny to hear the US plead for help in Afghanistan invoking the world's safety. Oh well...

[Valentin]

"They simply forgot to tell that France was a bad exporter well before the Euro went strong"

One could also say Germany is bad at nuclear or space technology, or high speed trains, or agriculture and so on. That's not the point, the point is that they have different interests; german and french economy have different structure and way of functioning and for the time being, Germany doesn't suffer much from a strong Euro. For the time being.
They also have a different geographical situation. Germany is already a member of a Baltic Sea organization, yet it made such a fuss over France paying a bit more attention to its own sea union. I'd say it's more about jealousy than something else :)

[Blendi Progri]

In international politics Sarko is, more pro-active, brighter and insightful that most people give him credit for.
It isn’t Just his ‘love & admiration’ for all things Anglo-Saxon since he was a minister, but a realisation that France, USA, UK etc need to be partners, in the world that we live now.
Simply in pragmatic sense.

Past French presidents & governments have even tried to marginalise UK influence in Europe, while apparently lamenting why Britain doesn’t go ‘all in’ , but that hasn’t worked. Despite what some thought at the time, the Franco - German axis, couldn’t totaly Pull the EU in the direction they wanted.

UK found that cultivating medium sized allies, could stop some of the plans/ initiatives of France and Germany and even create multi polar centres of influence.

At times courting ( and having on its side) Spain, Italy, Poland and treating smaller EU members like grown-ups (something that Fr failed to do, all we remember how Chirac’s arrogance antagonised these members- more than once) even providing a strong advocacy for Turkeys entry in EU ( diluting further the Fr- G influence) made Britain a major player.

France has (by now) realised that Britain, can't and won’t be rushed in major decision while Europe is concerned. Also isn’t so much that Fr- German alliance has weakened, but sheer neccessity dictates that Britain should be kept closer and seen as a major ally in all matters Europe.

This state visit, will reassure the British partners that The French President means what he says; that he is prepared to give Britain time & space and consider her as a major Partner in EU, alongside Germany.

A tri-polar alliance can make sure that EU is pulled in the right direction towards the future. I think that Sarko is a very pragmatic politician where international relations are concerned.

[Daniel Strohl]

Monika, Dominique

Mrs. Merkel does not like the idea of the Mediterranean pact (as it had been formulated at the beginning) and she made it quite clear.

One may understand that; but as far as I remember, when the former chancellor Gerhard Schröder was appointed vice-president of a big Russian gas or oil company a few years ago, while having been beforehand deeply involved in German/Russian negociations about a pipeline across the Baltic sea from Russia to Germany, there were no big protests in France.

May be French politicians are able to understand and admit that Germany wants to consolidate its energy supply (oil and gas) coming from Russia, and that it has no other alternative, since the German nuclear plants are scheduled to be shut off in the years to come; the first plants will be closed down as early as 2008 or 2009.

Conversely, may be the Germans should be able to admit that the French want to consolidate their own (oil and gas, among other) interests in the Mediterranean. This would be a (rather modest) "Drang nach Süden" .))

"It was en vogue to blame Europe for own problems"

Monika, this is unfortunately true. But what is also true now is that the dollar is too weak or the Euro too strong, or most probably both. German exporters do now also "sentir le vent du boulet", if I believe a few articles I have read not so long ago.

Modesty on both sides of the river Rhine would help.

[Monika]

VALENTIN
"They simply forgot to tell that France was a bad exporter well before the Euro went strong"

One could also say Germany is bad at nuclear or space technology, or high speed trains, or agriculture and so on."

The point is that the French advocates for a weaker Euro promoted this measure as a means to improve French exports and therefore improve French economic figures.

VALENTIN
"That's not the point, the point is that they have different interests; german and french economy have different structure and way of functioning and for the time being, Germany doesn't suffer much from a strong Euro. For the time being."

Yes, and this is actually the point. See my text above. Btw. a strong Euro or better a weak dollar has its advantages. It makes the gasoline so much cheaper ^^

VALENTIN
"France supported the idea of an independent ECB - that's not the problem; the ECB should also use its independence to promote sensible policies and be reactive to the real world economy (the Fed's reactivity is a good example, their interest rate can go from 6% to 1% in a matter of months). Or when the ECB behaves like a mammoth, in total disconnection with today's fluid world, and its behaviour starts to have direct consequences on national economies, politicians are in their right to try and wake up the mammoth."

Now if this is not an attempt to influence the decision of M. Trichet, je ne sais pas !

VALENTIN
"They also have a different geographical situation. Germany is already a member of a Baltic Sea organization, yet it made such a fuss over France paying a bit more attention to its own sea union. I'd say it's more about jealousy than something else :)"

Oh, it is not really so much jealousy. Sarkos idea was just a unilateral act that would impact all other members of the European Union. Btw the Baltic Sea Org that you cite is on a smaller scale geographically spoken. Btw. it is definitely NOT a UNION as that wanted by Sarko but simply a intergovernmental cooperation frame which - if I am well informed - already exists to a certain extent with the North African states.

[T. Andre]

Some of the "defensive" remarks here are just as revealing to me. France has damaged the idea of cooperation between two countries and corporate agreements by a reversal take-over of Aventis, the continuing effort to take over EADS or establish parallel structures through Safran etc....
From Germany's point of view, France cannot be trusted - and they dont anymore.

[christopher muir]

Perhaps Buckingham Palace had better be prepared to present the French president with a number of portable luxury items at regular intervals. The thought came to mind when I again watched Sarko’s blatant desire for a very sleek fountain pen. Probably old-hat to fellow bloggers by now, but it’s a funny and revealing clip probably worth revisiting.
http://www.dailymotion.com/relevance/search/merkel/video/x4m3h9_merkel-se-moque-de-sarkozy_politics

[Edward Johns]

Talking of Anglo-French relationships in the past, almost exactly a hundred years ago France's gold was bailing out the Bank of England !

[Roberto Castellano]

I believe that now that English has become a kind of international language a French Chief of State should be able when visitins UK to express himself in your language.

[rockinred]

It says a lot about Sarko's weaknesses and need to be loved that he seems keen to shackle himself to a drowning man. How on earth will stronger relations with the floundering UK help France economically? Unless it's a cunning plan to weaken the Euro against sterling...

[Dominique]

Monika writes :

"But do I have to remember you that France together with all other countries using the Euro commited themselves to keep the ECB independent. Shall I remember you that Trichet who is French was absolutely against Chiracs proposal?"

Of course, that was in 1992 for Maastricht : 16 years ago!!

Is that what democracy is about? what was decided 16 years ago was decided forever? I am sorry but that will undoubtly lead to huge constraints within the EU because all countries obviously do not share the same definition of democracy and political power.

It is very well known the the french usually want more state intervention and economic power than let say Germany. Can't we discuss about it or will France ear forever from the german side : "don't even think about it!".

More, the Euro appears more and more like the new DeutschMark, managed in Franckfurt, and that was clearly not the deal. The Euro was meant to be the european currency for all europen countries, including...France, Itlay etc... the so called "club Med europe". Of course the Euro is well adapted to the german economy made of middle size "Unternehmen" exporting top quality industrial goods, but not quite so to, let say the french economy more based on pricing. Does it mean that France just "has to deal with it" and just change? i am afraid this won't happen soon. We won't redefine the french industrial frame just like that "snapp" within a day in order to please M.Trichet.

You write that M.Trichet is french. So what? it is also very well known that M.Trichet is struggling for showing the 26 other countries of the EU that he is not "a frenchman" but the "ECB president". So that clearly means that he is in the mood of opposing the french views as a principle. No one can blame him. The truth is that having a compatriot at the ECB is clearly not an advantage.

More, i remember very well the Maastricht referendum in 1992. The global mood of those who voted "YES" was : this is only a start, political unity will come after. Those who voted "NO" were in the mood of saying "it will never come and we'll loose democratic control of the currency". I am sad to see the those who voted "NO" were right. For plenty of reason (German disagreament, the 2005 referendum etc...), the political european project France was trying to built is dead. All Europe (Germany, France, and all the others) will have to face the consequences : political split, people's disagreement, political disgrace of the EU in France.

Mrs Merkel can be moralist and explain everyday that the german view is the right one, this is not the question : the german view is not the only one.

Regarding the Euro, the truth is that the political motto of the ECB come from german history : inflation never again! We can understand this very well, but this is clearly a german motto based on german history.

[Monika]

Daniel,

I really appreciate your posts including this one for your discussion style.

The problem the Germans had with a Mediterranian UNION was that it was meant to go far beyond a few multilateral treaties. Cooperation agreements exist already and I think Me Merkel made it clear that this cooporation may be increased (by treaties and such).
I still believe that you cannot implant another EU-style thing with some EU members being the exclusive members of this new union.

Btw. never ever was a Union between Russia and Germany discussed.

Gerhard Schröder became vice-president of this thing after he left the post as chancellor, that is when he again was a private person. No need to make a state affair of it^^
Besides, he was harshly critisized here for this and I dare say that his reputation fell well below the Earth surface.

One could imagine that the long term strategy of Sarko was to integrate the Mediterranian countries into the EU by the backdoor. Wouldn't quite fit his opposition to Turkey in the EU. Of course this is just speculation.

[Ros]

"["[Sarkozy] is expected to make a gesture by sending an extra thousand or so French troops to the Nato operation in Afghanistan." CB]
I heard quite clearly this morning on the Today programme Radio 4 (unfortunately am incapable of re-finding the link - around 7.30 am GMT) that Sarko is not making a GESTURE but is going to insist on a EXCHANGE - i.e. in RETURN for the extra troops, the French will have a much more powerful position in NATO with Berlin & Brussels which will consequently weaken the British & American side - thus NATO will, so to speak, be cut in half.
" Equal to the Queen." please.....
Charles!
Quite off-thread, I also heard on Today (confirmed by a french voice) that the Parisians are lending their best bottles of wine to the pawn-shop (mont de piété =(Crédit Municipal) - I admit to not believing this but have since found it in the Figaro! http://www.lefigaro.fr/vins/2008/03/20/05008-20080320ARTFIG00343-cesmouton-rothschild-et-petrus-mis-en-gage-au-mont-de-piete-.php

[Monika]

Dominique:
I must obviously remember you that it was due to Chirac's pressure that M. Trichet is now where he is. Shall I remember you that to please M. le president that the job contract of M. Trichet's predecedor was cut by half in order to get a Frenchmen sooner into the ECB?
Now France is no longer pleased with M. Trichet. ^^

You write:
"it is also very well known that M.Trichet is struggling for showing the 26 other countries of the EU that he is not "a frenchman" but the "ECB president". So that clearly means that he is in the mood of opposing the french views as a principle. No one can blame him. The truth is that having a compatriot at the ECB is clearly not an advantage."

Well, THIS argument of yours should have rang a bell with you. OF COURSE he is there to please all other 26 nations and not to please France ALONE.^^
And the accusation of him being particularly anti-French in order to proove that he is not pro-French. That is a cheap and easy accusation you can always do on many. Perhaps he simply agrees to the principle laid down for the ECB which are fact while your accusations are simply speculation.

And I really don't understand what the ECB and the principle after which it is governed has to do with democracy ... it has to do with economics. As it seems it is only France who wants more state intervention. Now France wants to impose her views on the rest of Europe. Now if THIS is YOUR understanding of democracy ...

[Valentin]

MONIKA ("Now if this is not an attempt to influence the decision of M. Trichet, je ne sais pas"),

Well I really wish that wasn't necessary; suffice it to take a look over the pond, the Fed's chairman is as independent as M. Trichet, but the huge difference is that he's not stuck into ideological stereotypes about Inflation or Not Inflation, he does not cry out "I'm Independent" sur tous les chemins.
Mr. Bernanke lives in the REAL WORLD and he COLLABORATES with the political leadership and the financial community BY HIMSELF, because he realizes this is the normal way to do things.

Independence is not being locked in your ivory tower and decreeing a quarter-point interest rate up or down.
I agree, the mistake was Jacques Chirac's. He should have supported someone of quality for that position, not a technocratical ideologue.

[Valentin]

T.ANDRE ("France has damaged the idea of cooperation between two countries and corporate agreements by a reversal take-over of Aventis, the continuing effort to take over EADS")

I'm not sure who's the unreliable one. If I'm not wrong, the Airbus (and EADS) problems began in a Dortmund factory having their cabling job wrong.
The wider truth is that Angela Merkel's soft style and bonhommie actually hides a lot more voluntarism and pride than one might suspect. She just could not stand Sarko being the Mini-Treaty maker, freeing the bulgarian nurses after the EU had struggled for years to no avail - or the Mediterranean Union. France proposes, has ideas, takes initiative, and that annoys hard-working Merkel who thinks that if she's an iron fist in a velvet glove, low-profile type, everyone else should be so.

[Romain]

Daniel Dominique Monika
The underlying and unspoken debate on ECB was summarized by Giscard d'Estaing in one sentence :"Germany made us pay for its reunification through high interest rates".
(no offence meant, Monika).
Mitterand did not give a pimple to economics, the Maastricht treaty was a scam. Gives you a clue on the French no to 2005 referendum on Europe.
Sorry for taking the discussion further aloof from the Royal showcase.

[Valentin]

"" Equal to the Queen." please...."

Oh no, of course, NO one is equal to the Queen, Her Imperial Majesty is just so Unique :)

(as long as we don't read the tabloid press and realize just in WHAT shambles the whole royal house is, alas...)

[Valentin]

I see we're all at our keyboards at the same time, happily blogging away!
Hello everybody ! :)

[Why are you not enjoying lunch on this holiday instead of sitting in front of the computer -- if you're in west European time zone ? CB]

[Valentin]

"As it seems it is only France who wants more state intervention. Now France wants to impose her views on the rest of Europe."

It's Italy too, and the whole southern half of Europe, I suspect. I'm afraid we're back to our old anglo/latin, north/south, protestant/catho dialectics...

[Monika]

There's no Airbus factory in Dortmund, Valentin ;)
The German-French difficulties within EADS are much older than the Airbus production problems and are not of a technical nature; furchtermore, they spread beyond Airbus (Airbus is part of EADS but EADS is not all Airbus). Concerning EADS integration problems, for this matter, are very likely a German-French problem with both sides to blame. But I really do think it is a bad example and is not part of the discussion on ECB.

And Valentin, I really appreciate your posts generally. So please don't add more speculations in Dominique style.

[Lily]

"The wider truth is that Angela Merkel's soft style and bonhommie actually hides a lot more voluntarism and pride than one might suspect."

Soft style? - She is calm but firm and doesn't hide a thing. She is frank and authentic.

Pride? - She has dignity.

[Valentin]

"There's no Airbus factory in Dortmund, Valentin"

The problems in the DUSSELDORF (it ends with -dorf, I KNOW) factory was the drop that precipitated Airbus over the bridge.

And the voluntarism of the French State was always within the boundaries defended by Ms. Kroes, the concurrence commissioner.

[Valentin]

I'm in Paris and enjoying my lunch alright Charles - an eye on Jean-Luc Delarue and the other on the latest Monika posts :)
I'm having my 50-yo ménagère afternoon lol :P

[and there's a good Disco evening tonight on France3, recommended by Europe 1 this morning....CB]

[Valentin]

Lily,

No doubt :)

[Monika]

Romain:
"The underlying and unspoken debate on ECB was summarized by Giscard d'Estaing in one sentence :"Germany made us pay for its reunification through high interest rates"."

Only if you consider that the ECB is influenced by Germany. As far as I remember it was France who wanted to change ECB policy.

Actually I don't have a big oppinion on which interest rates should be taken I simply trust the head of ECB to find a good balance for European economy.

High and low interest rate have their advantages and draw-backs as far as I understand this problem.

Low interest rates mean more consumption on borrowed money and exporting cheaper. On the other hand it means inflation (rising prices which will lead in the end in consumption break down if salaries don't increase accordingly) and expensive imports (including oil and steal imports or anything that is rated in dollars).

High interest rates mean less consumption increase but stable prices. It means cheap imports of anything that is rated in dollars.

The point is to find a good balance. I don't have the competence to judge where this balance is. Do you?

The US may have fared quite well with their central bank up to now but their galloping deficit including the debts of private persons are not a good example to follow I think.

[Monika]

NO, there's no factory in Düsseldorf either^^

you shouldn't eat while posting, Valentin ;)

(But doesn't matter really where it was.)

[dot king]

[Why are you not enjoying lunch on this holiday instead of sitting in front of the computer -- if you're in west European time zone ? CB]

Because here it's an hour later, as I type my PC tells me it's 14.45, but I think this will show 13.45 when you print it, or nearer that time than this.

[Valentin]

"[and there's a good Disco evening tonight on France3, recommended by Europe 1 this morning....CB]"

Splendid, I'll see you there... hopefully this time you'll bring the Mrs too, instead of leaving her knitting alone at home :)

[dot king]

(as long as we don't read the tabloid press and realize just in WHAT shambles the whole royal house is, alas...)
(Valentin on the British Royal family)

I'm astonished you admit to reading the tabloid press, Valentin.
I think if you took an opinion poll about the Queen in the UK, she would come out with a higher popularity score than N Sarkozy has here.
You're one of the ones who always say that we should look at what Sarkozy does politically rather than bashing him the whole time, but he's far more "bashable" than HRM. And her standing in the world at large is certainly far more prestigeous than either of the Sarkozy couple (this or the previous one).
FYI Princess Diana is dead, Prince Charles has married the woman he has always loved, his children have grown up, the public have accepted the situation, I think because they prefer the honesty to the cover-up.
I'm not a Royalist (either side of La Manche), but I really think you go too far with your "House of Windsor Bashing Campaign" -especially if you get your "information" from the British tabloids.
That's another new side of you revealed! :)

[Valentin]

"their galloping deficit including the debts of private persons are not a good example to follow I think"

They're smooth, those yankees: the galloping deficit (in dollars) is financed by foreign money, and continuously diminished by the very fall of the dollar against foreign currencies :)
Frankly, I don't see Mr. Trichet devising such scheme. He's the same kind as the old-school IMF bosses: BEWARE INFLATION !!! (which is what helped plunge Argentina and Brasil into crisis, voire bankruptcy)

Save that inflation is already there, its just that no one is breaking the news to Mr. Trichet.
And this time'round - given the CAUSES - no raise of interest rates is likely to be of much help.

[Valentin]

http://en.wikipedia.org/wiki/Airbus#Catia_debacle

This is symptomatic for the European cooperation. But do we have any chance to see europeans stop behaving like they're alone in their little village gaulois (or dorf, or burg) ? Not any time soon, if you ask me. European culture is viscerally against federalism. Europe will end up like the French cheese farmers - subsidized by the whole world because of a few luxury class products.

[Valentin]

http://en.wikipedia.org/wiki/Airbus#Catia_debacle

This is symptomatic for the European cooperation. But do we have any chance to see europeans stop behaving like they're alone in their little village gaulois (or dorf, or burg) ? Not any time soon, if you ask me. European culture is viscerally against federalism. Europe will end up like the French cheese farmers - subsidized by the whole world because of a few luxury class products.

[Valentin]

Accessorily to our ECB talk, here's an article from the Economist on the current financial problems:

http://www.economist.com/opinion/displaystory.cfm?story_id=9646451

The idea is that the american Federal Reserve had to jump to the rescue of the Bear Stearns bank, using PUBLIC FUNDS, because of the total lack of confidence anyone has today regarding bankers who got involved in complex derivative trafficking (bonjour, Azloon!).
For exactly the reasons I was listing a few months ago: risky loans (like the subprimes) were mixed with solid ones, and financial products thus packaged were sold on the market without distinguishing. Once the meat is proven rotten, no one has any confidence anymore, no one is funding Bear Stearns and others.
And far from letting the market eliminate the bad seeds, the Fed intervenes (with public american money), because otherwise the whole banking system could fall.

This shows where complex derivatives and absence of regulations lead to.
The public ends up paying for the risk taken by brilliant quants and their financial tycoon bosses (while they're spending their golden retirement on some sunny island).

Actually it was

http://www.economist.com/opinion/displaystory.cfm?story_id=10880718

[Lily]

"France proposes, has ideas, takes initiative, and that annoys hard-working Merkel" (Valentin)

The problem rather is that Sarko's ideas lack substance. How would he have put certain leaders of the Mediterranean Union all on one group photo on MU summits?? - He wasn't even clear about what States precisely he wanted to invite to become member.

Sarko and Merkel are both hard-working. Sarko is just too airy-fairy for down-to-earth Merkel;... or else, she is too stiff for his swift elegance :) (?)

It is my impression that Germans are more interested in finding a consensus with France than is estimated in France. Germans still believe in the EU project, while - according to some of these comments - the French seem to expect an end of this project with subsequent new and different alliances.

This is an interesting perspective with regards to the upcoming French EU presidency.

[james hazan]

Andree,will certaily keep an eye "on my son the president"

[Dominique]

" Equal to the Queen" ?

We all know what it takes to equalize the Queen with a french Président : a head off!

That is particulary the case since Sarko is president!;)

[John Gregory Flinn]

MARY FERNANDEZ/DOT KING -

Equal to the Queen!?
There is some snobbery loose here.
Mrs Windsor is a boring old lady, a compliant creature of a self-satisfied establishment and living on borrowed time!
Reports have it she follows 'The Bill' and 'Eastenders'....I mean really!
Rather like a characterization of her kingdom.

I don't know a lot about Sarkozy's habits, but - apart from being Heads of State - they are indeed very unequal.

PS for MONIKA, the old Deutchmark always used to run its interest rates lower than the rest, and also had the lowest inflation.
There is not a great deal of the correlation in the relationship you post.

[dot king]

"Mrs Windsor is a boring old lady, a compliant creature" (Valentin)

Just when did you meet her Valentin, to be able to say this?

When making comparisons, you have to compare like with like.
There can be no comparison between Sarkozy and Her Madge, they are from different worlds, you can prefer one to the other, or have no opinion about it, it doesn't matter, but they can't be compared to each other.

Is "The Bill" still running then? Haven't seen it in years. Not since I came to live in France.
So what if The Queen watches "The Bill" and "Eastenders"?
Do you watch them? If so, why, since you seem to condemn them so emphatically? And if not, how can you judge them?

The snobbery that is loose here is in your judgement, not in the Queen's watching of these two TV programmes.

BTW I'm sure HRM ERII will have the manners not to watch telly while she has guests - let's hope Sarkozy thinks to switch off his mobile phone and resists sending endless text messages during this state visit.