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€5 billion – the mother of all losses
Iqbal Latif - 2/4/2008
Zeroes are zeroes after all. SocGen trader, Jerome Kerviel is not an anomaly. He is part of a global financial system where in every day, an average trader is in his mid-to-late twenties, who runs trillions of dollars of global money. There are two very clear kinds of bankers today – one is the “old school” 70s banker who has absolutely no idea of credit derivatives and associated risks, and the other is the “new school” banker who comes fresh out of college and paid millions in bonuses for his performance. These “new” bankers are hungry, arrogant, basking in self-glory and foolish. Nothing in life can replace the experience of facing a bear market and a bull market.
France Switches Gears in Lebanon
Gary C. Gambill - 7/9/2007
After three years of virtually seamless Franco-American concord in dealing with Lebanon, newly elected French President Nicolas Sarkozy has launched a major policy shift that has Bush administration officials fuming.
French Election Goes To Expected 2nd Round
Ross Kaminsky - 4/26/2007
The center-right candidate Nicolas Sarkozy and the socialist Segolene Royal were the two leading vote-getters in this weekend's French election, with about 31% and 26% of the vote respectively.
The death of intellectualism - An evening in Paris
Iqbal Latif - 12/12/2006
Paris has its own charm as far as intellectualisation goes. One does not need any props, it just appears unsurprisingly. Brasserie Lipp, the Cafe de Flore and Les Deux Magots have been frequented by celebrities, artists and writers, from Jean-Paul Sartre to Simone de Beauvoir. Cafe de Flore and Les Deux Magots have been here since the nineteenth century. In the good old days, when the bourgeois swaggering leftist intellectuals populated the side-streets and cafes of post-war Paris in their droves, Cafe de Flore was labelled as the meagre leftist haunt and the Deux Magots, its neighbour, arist...
Dialogue or Devastation: Two Paths at Stake in France
Bhuwan Thapaliya - 4/3/2006
Unlike the multicultural approach of the United States and Britain, the aim of France, according to some analysts, has been to elide, or gloss over, the particular cultural and religious backgrounds of immigrants to make them indistinguishable from the natives, as the French have long prided themselves on their ability to weave foreign settlers into the seamless fabric of society.
French Riots and Intolerance
Amit Pyakurel - 3/20/2006
The French government has again came under pressure in the face of reemergence of the protests, often violently subjugated, from the dissatisfied youths who have came out to the streets, further provoked by the recent employment law of the French government that lets the small firms to offer the job contract for the people under 26 by making it easier to fire a worker.
France, Europe's Constitution and the Swiss Example
Angelique van Engelen - 5/19/2005
If the French vote NO to the European Constitution at the end of this month, the crisis that's likely to ensue will likely invoke novel ideas on democracy and populations' influence over decisionmaking at the supranational level. The Swiss system yields some ideas for viable options.
Politicians in Brussels Say Political Impact of a French 'Non' Would Be Worse Than Economic Effect
Angelique van Engelen - 5/17/2005
Politicians in Brussels, assessing the impact of a possible French No to the EU constitution, say that they fear its political impact more than its influence on the wider EU economy, even though the No vote is mainly driven by French population's concerns over their domestic economy. Europe's political landscape is more fragmented than ever and populist movements, which had been subdued during recent years, are increasingly beginning to surface.
Slavery and Communism in France?
Ross Kaminsky - 5/12/2005
Between the "social benefits councils" and the government's plan to have employees work a day for no pay to fund air conditioners for old people, the French can't seem to decide whether they prefer Communism or Slavery.
A French 'Non' to the EU Constitution Would Pay Hommage to History
Angelique van Engelen - 5/2/2005
Many of the problems that the members of the European Union are expressing with their constitution are in matter of fact problems with they perceive to be the 'one size fits all' idea of policies. The French are loudest in expressing their objections and looking at the history of the evolution of the nation state, perhaps they have a point. It took millennia for the idea of the Nation State to evolve into any recognizable shape. So to expect a huge bloc of countries to continue to integrate without noticeable hiccups would be naive.
European Constitution And French Jitters
Angelique van Engelen - 4/7/2005
Talk of 'growing rifts' in the European Union accompanies all major political summits without exception, but last week's Brussels event was overcast by fears that the French electorate will vote "no" to the new European constitution May 29th. So far, four EU countries have ratified the proposed treaty and only Spain has done so by referendum. Observers say that the French referendum -which is next- is dominated by issues which have little or nothing to do with the 341 page document comprising the constitution. If French voters turn out a convincing 'No" vote, they will have likely been castin...