François Hollande: the eurozone crisis is over

[alp227]

Source: The Guardian

François Hollande, the French president, has declared an end to the eurozone debt crisis, despite record unemployment across the continent.

"You must understand that the crisis in the eurozone is over," Hollande told an audience in Japan during a three-day state visit.

"Europe has become more stable, but it must now be oriented toward growth," he said during a speech in Tokyo. "I believe that the crisis, far from weakening the eurozone, will strengthen it.

"Now, we have all the instruments of stability and solidarity. There was an improvement in the economic governance of the eurozone, we set up a banking union, we have rules on budgetary matters that allow us to be better coordinated and have a form of convergence."

Read more: http://www.guardian.co.uk/world/2013/jun/09/francois-holland-eurozone-crisis-over

[House of Roberts]

1. It's only a crisis if bankers might go to prison.

Poor people unemployed, going hungry isn't a crisis to the elites.

[Bosonic]

2. I can call spirits from the vasty deep

But will it come when you call for it, François ?

[DJ13]

3. Are most EU countries still using austerity?

Then it aint over.

When real economic growth becomes the priority, it will start being over.


For years now all the world has marveled at China's growth, yet the idea of emulating them never is an option.

[dipsydoodle]

4. All mouth and no trousers that one.

I don' t think the French believe him any more let alone anyone else.

[midnight]

5. Like America, France will also have a jobless recovery...

[bhikkhu]

11. The recovery here has added 5 million + jobs so far

[HiPointDem]

17. still a couple of million fewer than there were before the recession (not to mention fewer full-time

& more part-time).

*that's* why it's 'jobless,' because we're not even back to baseline 5 years out.

[bhikkhu]

18. Well on the way, or "not even back to baseline"

either way you phrase it its still 5 million jobs, and counting.

I think everyone on both sides knows we could have done better, and where the primary blame lies for the recovery not moving faster.

[HiPointDem]

19. no. 7 million jobs existed before the recession. there are now 2 million fewer. no new jobs have

been created net.

[bhikkhu]

22. So new jobs don't count

until all the lost jobs are replaced. I guess I didn't read the rule book

[HiPointDem]

23. net job loss.

[midnight]

21. Every bit helps....

http://www.csmonitor.com/Business/2013/0607/US-economy-creates-175-000-jobs-

[roamer65]

6. No Francois, its just the beginning.

If the PIIGS are not allowed out of an overvalued currency, then the social unrest from their high unemployment will eat the EU alive. You had better start devising an exit strategy for those countries right now, my friend.

[Gregorian]

7. Fake it til you break it.

[n2doc]

8. I'm sure the Japanese were too polite to laugh

But if he had said that in the EU it would have been the laugh line of the night. Followed by fruit and vegetable tossing.

[alp227]

26. What, no shoes?

[dixiegrrrrl]

9. Famous phrases, to add to:

"the sub-prime crisis is contained and will not affect other sectors of the economy"...Bernanke

" The Iraq invasion will be very short term, a matter of weeks"
and
" The Iraqi's will pay for the war from their own oil resources"
Rumsfeld

"Mission Accomplished, hostilites are over"....

" No one could have foreseen............"
most famously by Condi, but also variants from the entire Bush admin.

Bookmarking for guaranteed later use.

[Javaman]

10. Did he have a "mission accomplished" banner behind him? nt

[Psephos]

12. Words fail me. n/t

[bhikkhu]

13. It sounds like he's announcing the end of austerity measures

as the eurozone crisis was the justification for them, valid or not. So this would be good and welcome news. And don't forget - Hollande is on our side too!

[PA Democrat]

14. Youth unemployment is over 60% in Greece, 56% in Spain, 40% in Italy.

I'd say there is still a crisis for millions of young people hit by the effects of austerity.

[bucolic_frolic]

15. Does this mean Euro stocks will go up tomorrow?

jawboning still works, doesn't it?

[Joe Shlabotnik]

16. Good one, François

[Dawson Leery]

20. So austerity is ending? Are the indebted nations going to be allowed

to peacefully exit the Euro?

[malthaussen]

24. Reminds me of an old Doonesbury comic strip...

... when the "Energy Czar" simply declared that the "oil crisis" was "over," and there was great rejoicing in the land. Ah, if saying it could make it so, what a different world this would be.

-- Mal