Two different outcomes for a crazy fiscal austerity. Portugal based its relative recovery on export. Greece was condemned by the eurozone's authorities to the mithycal structural reforms.
On Sunday 25th August, I joined forces with Arnaud Montembourg in Frangy-en-Bresse (or Frangy-en-Grece as it was renamed for the day!) to put forward to the people of France a simple message: There is no alternative but the democratisation of the Eurozone!
Unfortunately, the analysis forgets that for the past four decades, CEOs have waged a relentless political war against trade unions, minimum wages, labor market regulation and public sector programs.
The proposal for a graduated capital gains tax may lead investors to hold stock for somewhat longer periods of time, but it is difficult to envision major changes in corporate behavior as a result.
