Word: montes
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...European economies aren't as big as the U.S., so the debt involved isn't as much, but when levels get too high and financing them just isn't possible anymore, the entire thing will come falling down," says Eric Grémont, co-founder of the Paris-based Politico-Economic Observatory of Capitalistic Structures. To avoid this, he and Touati both say that states must freeze their spending at current levels to speed up a return to economic growth. But when that happens, they add, governments must also start slashing budgets, reducing expensive state services and cutting jobs...
...focus too much on Afghanistan, where our intelligence agencies say there are only 100 or so al-Qaeda operatives, we run the risk of taking our eyes off the prize and playing into the hands of the forces we are trying to defeat. Roland Nicholson Jr. Mont-Tremblant, Canada...
...MONT-TREMBLANT...
...This is a clear and unabashed oligarchy situation in which 150 people, max, run French business in a collusive but entirely legal manner," says Eric Grémont, a co-founder of PEOCS and a co-author of its upcoming book A la Découvert des Grands Patrons (Fleshing Out the Big Bosses). "You hear and read a lot about dynamic new companies and rising CEOs, but those are the tiny exceptions to the wider rule: French business is controlled by a small élite of very powerful men free to decide things as they wish - so long...
...Touati notes that this system has gone largely unaltered for 40 years, despite other changes that have taken place in the economy: nationalization, socialization, privatization and pro-market reforms. Grémont says that such enduring élitism is difficult to challenge in normal economic times, which is the main reason some French executives continue to fear that the current global recession could morph into something more serious: a 1930s-style meltdown capable of shaking the entire economic structure to its foundations. Were that to happen, chain-reaction bankruptcies of companies could force the French state to step...