The French ferry firm SeaFrance went into official liquidation today after the EU commission ruled a bailout by the French government was illegal – with about 800-1000 jobs at stake.
In four months' time the poison dwarf faces a presidential election, and this is only one disaster in what is turning out to be an industrial meltdown. Heavy job cuts are expected from a number of businesses, and with unemployment standing at a twelve-year high, this is bound to have an electoral impact.
Ironically, though, Sarkozy has been meeting Merkel in Berlin talking about the need "to boost European growth and competitiveness". Yet Merkel is not exactly helping: "We want to make clear with a combination of solid finances and growth stimulus that we are not only committed to preserving the euro but that we also want a strong, modern and competitive Europe," she says.
With this line of rhetoric, the Socialists now look electable, with Francois Hollande currently leading Sarkozy in the opinion polls. And four months is plenty of time for things to get much, much worse.
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