PAPA SARKOZY THREATENS TO ANGER EUROPEAN PARTNERS WITH PROTECTIONIST PUSH AND SHUTDOWN ON IMMIGRATION
President Nicolas Sarkozy’s son Louis has been accused of throwing a marble and a tomato at a policewoman who was guarding the Elysee presidential palace. Fourteen year old Louis Sarkozy and two friends reportedly threw two marbles and a tomato at the astonished officer.
Father Sarkozy upholds a zero tolerance for violence towards police officers, and his view of unruly teenagers – whom he calls ‘rabble’ – is one of total disdain. He once threatened to use a high-pressure water hose to deter such ‘rabble’ from committing further crimes in the Paris’ bleak suburbs. Let’s hope for young Louis’ sake that Greece’s successful bond swap negotiations last week, enabling Athens to receive its second bailout package, were enough to subdue Papa Sarkozy from utilising the gargantuan super soaker against his youngest son.
The policewoman has decided not to press charges following a personal apology from the President.
The news comes in the same week that Sarkozy has stepped up his re-election campaign by appealing to France’s far right; he vowed to support local companies and shutdown the borders for immigration and cheap imports despite European limitations on protectionism.
Sarkozy threatened that if European laws were not brought in to support its own companies then France would begin to apply the rules unilaterally. This contradicts his pledge in 2007 that on his watch France’s commitment to EU treaties would never again be thrown into question; it could also risk upsetting the harmonious relationship that he shares with German Chancellor Angela Merkel – something which many have viewed over the past few months as the last vestige of stability within the every-raging Eurozone debt crisis.
“I want a Europe that protects its citizens. I no longer want this savage competition.” Sarkozy announced to 30,000 people amid roars of support at a conference just outside of Paris.
“I say no to a Europe that opens up its markets when others don’t. Such behaviour does not mean accepting free trade, it means accepting being a Europe that is a sieve.”
Sarkozy’s fierce rival and current poll favourite, Socialist leader Francois Hollande, hit back at Sarkozy’s apparent hypocrisy saying: “He has accused me for months of wanting to renegotiate the European treaty on budgetary discipline and austerity to be applied to each country… Now Sarkozy, unable to present other ideas to the French, is using Europe as a scapegoat.”
Many in France have dismissed Sarkozy’s latest efforts as lacking in economic direction and feel he is solely addressing France’s far right, whom he knows voted against a whole raft of European led initiatives, in an attempt to gain votes.
The Euro to Pound Exchange Rate has performed significantly well today reaching 0.841 in an improvement of almost half a cent. But if Sarkozy continues to rock the EU boat then lack of political stability could bring about a return to risk aversion in traders. This could lead to the Pound retracing its daily losses and building back up towards and above GBP/EUR 1.20.