Arrondissement 21

One of the best comments I've read today about the French and Greek elections and the euro was written by a Conservative MEP, Marina Yannakoudakis, and you can read it here. Her analysis is spot on and the markets today have proved that there will be no stability on European or American or Asian stock exchanges until the euro crisis is resolved. Not even the genius Miliband brothers can turn the tide with their rhetoric set out various articles they've had published today the sense of which have been captured here. The nonsense spoken about austerity though is mind blowing since austerity hasn't even started. Mr Hollande will have his hands full not only dealing with his domestic agenda but also with his negotiations with Merkel over the euro. I doubt somehow he is going to get his way whatever his spin doctors say. Hollande was asked how he would deal with Cameron who of course refused to meet him when he came to Arrondissement 21 as the London French community is known. Hollande replied that he would seek a meeting with Cameron as soon as possible to discuss industrial and defence interests. Presumably what he meant by industrial interests includes the number of French semi state owned enterprises that have businesses here such as one of the operating companies of London TfL buses and one of the electricity companies. Perhaps he wants assurances from Cameron that these companies will not be discriminated against and that they will be allowed to pay dividends back to the French government as France will need every sous it can get to deal with its increasing deficit. Hollande made no mention of discussing getting rid of the iniquitous CAP funded in part by us for the great benefit of French and German farmers. He did though say that we have only been concerned about the welfare of the City and the threat of the financial transaction tax which no doubt means he wants to see its introduction. I don't think, if he takes that line, that he is going to be given a warm welcome next time he comes to the Arrondissement 21.