Word: mauroy
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...article, Mitterrand admits: "I committed the error of not devaluing from the first," a move advocated by Michel Jobert, then Foreign Trade Minister. Said Mitterrand: "I felt that he was right. But [Prime Minister Pierre] Mauroy and [Finance Minister Jacques] Delors persuaded me to the contrary." Mitterrand indicated that he wanted to impose a policy of economic "rigor" as early as the spring of 1982. He felt that the "Germans were not ready," an apparent reference to Chancellor Helmut Schmidt's reluctance at the time to undertake a simultaneous revaluation of the mark...
...consequences of the French franc's third devaluation in 22 months of Socialist government. Speaking on nationwide television, Mitterrand faced a public also confused by a slow-motion Cabinet reshuffle in which, after days of hesitation and debate among his advisers, the President had anticlimactically reappointed Premier Pierre Mauroy, 54, to head a streamlined government composed of virtually the same faces. Considering the difficulty of his task, Mitterrand's rhetorical talents rose to the occasion. In an inspirational vein reminiscent of former President Charles de Gaulle, Mitterrand urged the French to be "mobilized without weakness and complacency...
Mitterrand's decision to reappoint Mauroy came as a surprise to many Frenchmen. It was Mauroy, after all, who had announced only in February that he "would not be the man of the third devaluation of the franc," and who, during the municipal election campaign, had blandly assured voters that in the struggle for economic equilibrium, "the worst is behind us." A gifted and genial politician, Mauroy has had day-to-day control over the Socialist experiment since Mitterrand's election in 1981. Wrongly anticipating a worldwide economic upswing and applying economic theories that had by then been...
Mitterrand rewarded Delors for his Brussels performance by broadening his powers. In the new Cabinet, in which the number of senior ministers has been reduced from 34 to 15, Delors now ranks second only to Mauroy. Although the proportion of Communists has not changed (two out of 15, plus two junior portfolios, vs. four out of 35 before), the new team seemed designed to placate bankers, businessmen and foreign investors who will be monitoring France's economic performance...
Mitterrand's decision to reappoint Mauroy involved a careful political calculation. Whatever his disadvantages, Mauroy is perhaps the one leader who can cajole the Socialist electorate into swallowing the bitter pill of belt tightening. He pushed through the unpopular wage and price freeze last year. For Mitterrand, there is also an advantage in having Mauroy absorb the unpopularity that the stringent new economic measures will generate. If Mauroy becomes too much of a drag on the party, the President can replace him before the next legislative elections, which are scheduled for 1986. Mitterrand thus has given Mauroy two years...