Wednesday, May 9, 2012

Oh France, What Are We Gonna Do With You?

There are two ends to the workaholic spectrum. One end represents ultimate laziness- the only creatures which could be located there are sloths and koalas; the latter of which sleep 22 hours a night on average and spend the other two eating. Not that I am bashing that- I mean, who doesn't envy a life where they have the ability to either nap or stuff their face? The other end of the spectrum is home to robots and other sorts of machinery that work 24 hours a day, 7 days a week, and do not even pause to recharge their robot batteries or sit down for a meal with their robot families.

Now, as with any spectrum, there is a healthy medium which is found, well, in the middle (doesn't take a rocket scientist to figure that one out). In my oh-so-humble opinion, a good portion of China's workers are located much closer towards the robot end than the koala end, which is far from doctor-recommended. However, I am more keen to discuss the Europeans at this moment, whose economic woes are plastered on the pages of every newspaper, and who seem to be edging further towards the koala/sloth end of the spectrum every day.

The employment benefits of many Europeans are the envy of all, including six-week paid vacations and the ability to retire in your early 60s. In Spain, employees often head out for a 30 minute breakfast immediately upon arrival at work, and then take an extended lunch period during the middle of their shift. The threat to this leisurely, stress-free way of life brought about from the economic crisis raging throughout the continent was was perhaps the main factor influencing the outcomes of the Greek and French elections. Throughout his presidency, Sarkozy was attempting to change policies that France can no longer afford- a step in the right direction which the people seemed unwilling to acknowledge last Sunday.

I just can't help but wonder how it is that Francois Hollande plans to keep both of his promises which seem impossible to coincide. He has told the French people that he will simultaneously curb deficits and expand welfare benefits, reduce the retirement age and hire more teachers. As noted in the Chicago Tribune today, "it's tempting to demand that things go back as they were when times were good. But that's not an option. Both France and Greece have been living far beyond their means, and they have run up hard against the inevitable limits of that approach".

At least Germany seems to be edging slightly in a more sensible direction and is not willing to accept monetary easing. I'm pretty sure it is not a coincidence that they have one of the strongest economies in Europe. I guess we will see how things go...

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