France in political turmoil

Update: Newspaper Le Monde, reports that two journalists, from two different publications,  found out that the amount  of  600 000 euros conceded by Minister Cahuzac is underestimated.  The real figure could be between 10  and 15 millions  euros. 04/07/2013

Today, French Budget Minister Jerome Cahuzac was forced to resign, charged with tax evasion. The French media talk about the “most serious governmental crisis” of Francois Hollande’s presidency, which broke just when the details of unpopular social budget cuts are about to be revealed.  Preaching fiscal rigor and calling for confidence in the government was Cahuzac’s style. During the Budget 2011 consideration,  he proposed an amendment aiming to establish a “national solidarity contribution” for the French residents abroad.

In a political landscape already eroded by delusion and financial stress, his past actions amplified the debacle.  For months, suspicion surrounded Cahuzac, despite his statement of absolute denial to the French Assembly in December, after French investigative news outlet Mediapart, and its founder and chief editor, Edwy Plenel, first brought the Swiss bank account to light.  Since then, reporters are buzzing like flies over detritus, digging, questioning relentlessly and finally, forcing the Finance minister to concede that he held 600,000 Euros in a swiss vault for 20 years.

At a time when French activists refer to “French Spring”,  as in “Arab Spring”, the challenge for Hollande’s government, which acted swiftly to distance himself from his budget Minister, is to pick up the pieces and spring back before chaos sets in

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