Sarkozy critiques EU central bank

Sept.20, 2007 The two stars of French politics continue to generate front page news.Both Nicholas Sarkozy and his rival Ségolene Royal have been making headlines. President Nicholas Sarkozy quite correctly criticized the head of the European central bank for refusing to lower interest rates in Europe in the light of the financial crisis and the decision of the Fed to slash its discount rate by 50 basis points. Sarkozy pointed out wisely that he did not believe in austerity policies at this time in his call for a higher growth rate and lower unemployment in France and Europe generally. His supply side policies are more dubious although selected reforms may be appropriate and necessary. But he should stick to his position on the central bank's unhealthy and untimely obsession with killing inflation through slow growth and unnecessarily excessive unemployment. In this position he is absolutely correct, despite being criticized by central bankers and other more conservative politicians. M.Sarkozy a absolument raison. Il a critiqué la banque centrale Europeanne pour son refuse de couper le taux d'intérêt dépit la decision de FED Americaine et la crise financière. Les plus conservateurs politiciens et les banquiers centrale ont objectent mais M.Sarkozy est 100 % correct. Il devra continuer à critiquer la banque centrale pour cette mauvaise politique que mine l'emploi et la prospérité. For her part Ségolène Royal was in Quebec and Montreal the last couple of days. She delivered a well received speech on la francophonie that delighted her audience including prominent Pequistes at the l'Université de Montréal.However, she did not visit Ottawa promising to do so on another occasion.