Francois Hollande to be sworn in as new French president

May 15, 2012

francois

Paris, May 15: Francois Hollande will be sworn in as France's first Socialist president in 17 years in a hurried ceremony on Tuesday before a dash to Berlin to challenge German Chancellor Angela Merkel's focus on austerity policies.

Mr Hollande, whose election comes as the euro zone is teetering back into crisis with fears about Greece's future in the single currency, will give his first presidential news conference in Berlin in the evening, flanked by the centre-right Merkel.

His first words as president will be keenly watched by financial markets eager for reassurance that his push to tack pro-growth instruments onto Europe's budget discipline treaty will not sour the start of his relationship with Merkel.

Any indications on initial economic policy moves will also be scrutinised both outside France and inside, where frustration over rampant unemployment and a sickly economy were key factors behind conservative Nicolas Sarkozy's defeat.

Mr Hollande, who said on the night of his election that the weight of events in Europe forced him to keep his celebrations short, said on Monday he knew he would be judged on how he starts his presidency.

Anxious not to lose the "Mr Normal" image that appealed to voters tired of his showman predecessor, Mr Hollande has asked for his 10 a.m. (0800 GMT) inauguration ceremony to be kept as low-key as possible.

In a break with tradition, he will invite just three dozen or so personal guests to join some 350 officials at the event and neither his nor his partner Valerie Trierweiler's children will attend.

That said, the man who until recently chugged to work on a scooter will still be presented with the official chain of office, a gold collar weighing nearly a kilogram and engraved with the names of all Fifth Republic presidents.

He will then be taken on a traditional victory spin down the Champs Elysees avenue in an open-topped car.

Mr Hollande is set to name civil servant Pierre-Rene Lemas as his chief of staff shortly after his swearing-in. Germanophile Jean-Marc Ayrault, who has strong contacts in Berlin, could be named prime minister later in the day.

Before that, Mr Sarkozy will go through the ritual of entrusting his successor with nuclear codes and other secret dossiers, and Mr Hollande will eat his first lunch as president with Socialist former prime ministers Pierre Mauroy, Laurent Fabius, Michel Rocard, Edith Cresson and Lionel Jospin.

Mr Hollande has picked an upscale hybrid Citroen as his official car and has had it fitted with a flat floor and a rail he can hold onto while standing up and waving to the public.

Aides said palace chauffeurs were frantically practicing driving the hybrid car without stalling it.


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Agencies
June 16,2020

India continues to remain ranked 43rd on an annual World Competitiveness Index compiled by Institute for Management Development (IMD) with some traditional weaknesses like poor infrastructure and insufficient education investment keeping its ranking low, the international business school said on Tuesday.

Singapore has retained its top position on the 63-nation list.

Denmark has moved up to the second position (from 8th last year), Switzerland has gained one place to rank 3rd, the Netherlands has retained its 4th place and Hong Kong has slipped to the fifth place (from 2nd in 2019).

The US has moved down to 10th place (from 3rd last year), while China has also slipped from 14th to 20th place. Among the BRICS nations, India is ranked second after China, followed by Russia (50th), Brazil (56th) and South Africa (59th).

India was ranked 41st on the IMD World Competitiveness Ranking, being produced by the business school based in Switzerland and Singapore every year since 1989, but had slipped to 45th in 2017 before improving to 44th in 2018 and then to 43rd in 2019.

While its overall position has remained unchanged in the 2020 list, it has recorded improvements in areas like long-term employment growth, current account balance, high-tech exports, foreign currency reserves, public expenditure on education, political stability and overall productivity, the IMD said.

However, it has moved down in areas like exchange rate stability, real GDP growth, competition legislation and taxes.

Arturo Bris, Head of Competitiveness Center at IMD Business School, said India continues to struggle on the list and the recent country rating downgrade by Moody’s reflects the uncertainties regarding the economy’s future.

"In our ranking this year, we again emphasize the traditional weaknesses of India -- poor infrastructure, an important deficit in education investment, and a health system that does not reach everybody. For India to follow the path of China, it must stress its intangible infrastructure," Bris said.

"In a less global world, with China, USA, and Europe looking inwards, currencies like the rupee (and the Brazilian real for instance) are going to suffer and display high volatilities.

"Moody’s has threatened the country with a downgrade to junk and that would put India in a terrible position to attract foreign capital. So the urgency for the government should be to fix the short-term problems—and this requires to improve the credibility of the government itself," Bris added.

With the exception of Singapore, the Philippines, Taiwan and the Korean Republic, most Asian economies dropped in rankings this year, the IMD said.

The reason for the Asian economies’ less stellar performance as a region, this year is partly the result of the trade frictions between China and the US, particularly because these economies are highly dependent on trade with China.

About Singapore, which moved to the top rank last year, the IMD said its position is largely driven by the relative ease of setting up business, availability of skilled labour and its cutting-edge technological infrastructure.

The IMD said the impact of COVID-19 on the competitiveness ranking has partially been captured by executives’ opinions about the effectiveness of the different health systems.

In the ASEAN countries included in the survey, only Singapore and Thailand have a positive performance in the effectiveness of the health infrastructure.

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Agencies
April 2,2020
Thailand's controversial king has created a category of his own with his idea of self-isolation.
 
According to reports, King Maha Vajiralongkorn, also known as Rama X, has hired out an entire luxury hotel in Germany, where he has been 'self-isolating' with 20 women.
 
The luxury hotel, the Grand Hotel Sonnenbichl, is in the Alpine resort town of Garmisch-Partenkirchen.
 
The 67-year-old king is self-isolating with his entourage that includes a 'harem' of 20 concubines and several servants, reported Bild.
 
However, it is unclear if his four wives are currently living in the same hotel.

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News Network
February 19,2020

Beijing, Feb 19: The death count from China's new coronavirus epidemic jumped to 2,000 on Wednesday after 132 more people died in Hubei province, the hard-hit epicentre of the outbreak.

In its daily update, the province's health commission also reported 1,693 new cases of people infected with the virus.

This brings the total number of cases in mainland China past 74,000.

Most of the cases are in Hubei, where the virus first emerged in December before spiralling into a nationwide epidemic.

Wednesday's jump in the death count was an increase on Tuesday's figures, although the number of new cases reported in Hubei were the lowest for a week.

A study released by Chinese officials claimed most patients have mild cases of the illness.

Outside of hardest-hit Hubei, which has been effectively locked down to try to contain the virus, the number of new cases has been slowing and China's national health authority has said this is a sign the outbreak is under control.

President Xi Jinping, in a phone call with the British prime minister, said China's measures were achieving "visible progress", according to state media Tuesday.

However, the World Health Organization has cautioned that it was too early to tell if the decline would continue.

On Tuesday the director of a hospital in the central Hubei city of Wuhan became the seventh medical worker to succumb to the COVID-19 illness.

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