To good to be true, well yes and no.
It's only been a couple of years ago that I couldn't get through a day without someone reminding me how much better the government was to it's citizens in several different European nations, than the U.S. was. They would point to health care, retirement, vacations, and a 32/35 hour work week; add to that four to six weeks of vacation as standard. The work week has steadily been decreasing in parts of Europe and even Australia.
To good to be true, well yes and no.
In the United States, by contrast, the working time has actually been increasing. Many workers put in longer hours than the forty hour standard. Two weeks of paid annual leave is standard.
Sarkozy, says enough of this, who will pay for it all? Massive tax hikes are not in the distant future unless something is done. “Since 2000, France's GDP has grown just 1.7% a year after inflation. That compares with 2.1% for the rest of the EU and 2.4% in the U.S. Today, as France falls further behind, just over 40% of the adult population works. That share will soar to 70% by 2040 if nothing is done. Already youth unemployment is nearing 22%.”
Well today Sarkozyhas won round 1 of the battle with the 9 day strike by the transportation and energy workers union. Round 2 is likely to take place before the end of the year. Never-the-less, they underestimated Sarko's resolve and political Capital. “"I have no intention to stop the reform movement, no intention to slow it down, no intention to forget my promises," he said. "I made commitments. They will be kept."
I think he deserves the Ronald Regan award, while facing similar union-made problems with air traffic controllers.
Anyway, to the point…do you think he will go on to win the game, and will that difference also be felt elsewhere in Europe where similar pension crises loom?
IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- Sarko's Stare-Down