• Financial crisis: the accused has changed sides
In September 2008, the President shall declare 38 times the word "crisis". At the time, into recession is symbolized by the collapse of the subprime bubble and the collapse of Lehman Brothers. In November 2011, the difficulties have not disappeared, but the excessive debt of the States of the euro area, combined with rising interest rates, is at issue. What, among other things, plunge Europe into a "brief period of recession," as the OECD noted in its latest report.
"The idea of the all-powerful market that is always right, it's over," Nicolas Sarkozy had struck in 2008. The President would then "re-found capitalism on ethics." Today, markets, wary, put pressure on European government claiming the lowest interest rates high payday loans with no fax.And when Standard & Poor's error sends a message stating that it lowered the rating of France, no sanction can be taken, despite the threats of the Minister of Economy Baroin.
• Debt: rigor replaced the stimulus
In September 2008, the time is not in a pinch. The word "debt" is also pronounced only once on a 45-minute speech. Prime Minister Francois Fillon may well have said, from 2007, that France is in bankruptcy, Nicolas Sarkozy prefers comfort by speaking of recovery. In fact, France will suffer a crisis less severe than its neighbors: the stimulus package and the "automatic stabilizers" (welfare, RSA) have cushioned the recession. But these instruments have increased the debt.