ii. Yet, most of the rebalancing between wages and profits goes through taxation/fiscal transfers. An easy way to do it would be through a lower corporate tax, which is close to the highest level in Europe. For understandable political reasons, this option in not in the cards. Among many other proposals, the National Pact for Growth, Competitiveness and Employment, lowers corporate taxation (tax credit), while the budget proposal for 2014 increases the VAT. This is the way France’s administrative rebalancing between profits and wages has to be understood: market forces might play a role in the medium run if more reforms are carried out, but in the short run most of the improvement in corporations’ relative GDP share should come through taxation and public transfers. Bottom Line: as the US is (still) facing a demand problem (excess saving by corporations, household deleveraging (nearing its’ end), and lower public spending through the sequestration), France has to deal with its supply side (low profitability of businesses, dwindling productive capacities, and insufficient innovation and price dependency). One way to correct those imbalances is to resort to market forces, but as the US case shows, the process can be significantly low with the absence of tax incentives. On the contrary, French authorities have decided to tackle the problem without resorting to any shock therapy on the labor side (flexibility and nature of job contracts) but rather through an administrative rebalancing that might also show some positive outcomes in the medium term. Don’t lose your faith in France. Source: France And Reforms: A Comparison With The U.S. Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Air France staff questioned after 1.4 tons of cocaine found on plane from Venezuela

The colorful bags weren’t registered to any of the passengers on the plane. When French officials opened them up, they discovered why — 1.3 tons of pure cocaine were stuffed inside the anonymous bags. The street value of the stash? About 200 million euros, or $270 million. Coast Guard makes $20 million cocaine bust Huge drug bust off the coast of Florida Drug busts at sea: 4 tons of cocaine The catch was made on September 11, but French authorities didn’t publicize the find until Saturday. On Sunday, Venezuela’s Public Ministry said that authorities had detained three members of the National Guard in connection with the incident. It wasn’t immediately clear exactly what they are accused of doing. The suitcases came from Caracas aboard an Air France flight to Paris, but did not match any of the passengers on board, CNN affiliate BFMTV reported. “Several” people have been taken in custody, French Interior Minister Manuel Valls told reporters Saturday. Authorities worked with Spanish, British and Dutch police on the investigation, BFMTV said. This case “illustrates the importance of strengthening International cooperation in the fight against traffickers,” Valls said. Venezuelan authorities are also investigating. The Public Ministry said prosecutors will investigate, along with the Counterdrug Command of the National Guard in Simon Bolivar International Airport, to see if any criminal activity took place.

France And Reforms: A Comparison With The U.S.

Evariste Lefeuvre picture

There was no explanation given for why authorities waited nearly two weeks to announce the seizure. Michael Shifter, president of the Inter-American Dialogue think tank in Washington, said the case supports U.S. accusations of high-level support for drug trafficking in Venezuela’s military as it was unlikely two sergeants and a lieutenant acted alone. “The quick arrests were not surprising – (President Nicolas) Maduro understands this is a real problem for him,” Shifter said. “But it is doubtful that any higher-ups in the military who might have been involved will be held to account.” Shifter said it is “hard to escape the conclusion that at least parts of the Venezuelan military are involved in drug trafficking.” Under President Hugo Chavez, who died in March of cancer, Venezuela became a major transit country for U.S- and Europe-bound Colombian cocaine, including via new routes to Africa. The U.S. government has repeatedly decertified Venezuela as a partner in the drug war. The White House issued its most recent annual rebuke Sept. 13, listing it with Burma and Bolivia as “failing demonstrably” to meet obligations under international treaties. Venezuelan officials call the allegations unfounded. They say they have stepped up arrests of traffickers and drug seizures. Keleris says Venezuela has captured more than 100 kingpins since 2006, extraditing most of them, including to the United States. U.S.

France Says Urgent Action Needed to Aid CAR

officials recommended last month that the U.N. Security Council approve this request. The African Union and United Nations planned to send experts to the Central African Republic to assess exactly what was needed and U.N. diplomats said that on the basis of those reports the Security Council would respond with a resolution. U.N. envoy to Central African Republic, retired Lieutenant General Babacar Gaye, and U.N. Assistant Secretary-General for Human Rights Ivan Simonovic both last month signaled to the Security Council that the AU force would not be enough to combat the crisis in the country, which borders six other states. We want to pass the message that it is imperative to strengthen the MISCA, Fabius said. France has a small force in Bangui securing the airport and its local interests. French diplomatic sources said earlier this week Paris would be ready to provide logistical support and increase its troop numbers to 700-750 men if needed. Michel Djotodia, who swept to power at the head of the rebellion, was officially sworn in as the country’s president last month but he has failed to contain waves of looting and killing by gunmen. Djotodia earlier this month sacked the head of the armed forces after days of clashes with fighters loyal to Bozize killed 100 people.