Born
in Spain and naturalised French at the age of 14, Anne Hidalgo has made history
by becoming the first woman mayor of Paris, her new role confirmed on Saturday
by a vote of city councilors.
The
outcome of the city council's vote was a foregone conclusion because Hidalgo’s
left-wing coalition won a majority of seats on the council during municipal
elections held on March 30. The mayor of Paris is then chosen by council members
in an electoral-college-style system. Hidalgo, 54, won last Sunday's municipal
election by a narrow margin and following an uninspiring campaign against
right-wing rival Nathalie Kosciusko-Morizet. Her victory was nevertheless
significant as it stood against the popular tide. Municipal elections nationwide
saw massive gains for the conservative UMP party.
Political allies said they were not surprised that Hidalgo bucked the dominant
trend to claim Paris's city hall, and that she began her path toward victory
long ago and far away. From
Andalucía to Paris Born in 1959 in southern Spain, Hidalgo came to
France as a young child with her family, fleeing poverty and the regime of
General Francisco Franco. She grew up in an underprivileged neighbourhood of
Lyon. After university studies in Lyon and Paris, she began her career as a
civil servant in the labour inspection department in Paris in 1984. A decade
later, in 1994, she joined the Socialist Party and became a cabinet advisor to
former prime minister Lionel Jospin, working especially on the issue of
employment equality for women. Starting in 2001, and up to her election, she
served as deputy mayor of Paris under Bertrand Delanoe. From
the shadows to the spotlight ... Critics have often dismissed Hidalgo
as someone lacking the charisma needed to lead Paris, accusing her of simply
surfing on Delanoe’s popularity to reach her position. However, political
allies are quick to hail her intrepid spirit and say she has all the qualities
needed to head one of the world’s financial and cultural capitals. “As soon as
you know her you fall under her spell,” city councilman Jean-Luc Romero told
FRANCE 24. “She's an intelligent woman, a woman who works extremely hard and who
has an extraordinary capacity for leadership. She’s also very funny.” Parisians
will quickly be able to form their own opinion of Hidalgo as she steps into one
of the most prominent roles in French politics. The woman who worked quietly in
the shadow of Delanoe for 13 years is now at the forefront in the City of Light.
2 comments:
Hong Kong Island was held in perpetuity and did not have to be handed back in 1997, it was the New Territories on the mainland subject to the expiring lease. However, Margret Thatcher did hand back Hong Kong Island along with all the rest under one condition.
China had to open itself up and allow a number of Banks to operate there. Two English and one American may have been the deal with an Australian Bank some time down the track. I don't know the exact details.
Dengs economy was a dud after they reneged on the private land deal with the people and nothing much was happening until the foreign banks set up shop and begun madly investing left right and center.
....the rest is history.
It appears Harry Wilson was in a rush to file this article. This is evidenced by the people he interviewed. Sharmila Whelan believes China's economic challenges to be "insurmountable". She should check the meaning of this word in the Oxford dictionary and perhaps revise her view. Asianomics are a firm given to sensational-type comments. Just a couple of months ago they wrote a quite damning report on HSBC, but in reading it I did not find real underpinning evidence and the market ignored it.
Harry the HKMA could teach the UK FCA and Bank of England a thing or to on how to professionally regulate a financial market. The HKMA know that by restricting the maximum mortgage loans to 70% of the property value at the time of the loan and ensuring banks are well capitalised, even if the property market lost 20% in value, NPL;s in the mortgage book would only rise by 3%. They have done the calculations and run a live model.
On a final point, losses at branches of banks, unlike subsidiaries, will be absorbed by the parent by the injection of capital. Even with subsidiaries, Hong Kong is too important to the powers that be that run China. They are not going to let the economy slip down the pan. Too many worthies from the mainland are heavily into the property market. And they like visiting the SAR. The Chinese food there is much better than any they can get on the mainland.
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