You know its goin’ down when the riots in Paris start. The French practically invented the modern-day civil unrest/ revolution in the streets thing…and I know because I saw it in a Broadway musical!
As fires were lit and shop windows smashed soon after 8pm last night, riot police unleashed rounds of tear gas at a mob of about 750 youths.
One night last week, 300 of La France’s finest citizens were arrested during the riot depicted in the video above. A total of 85,000 Frenchmen showed up to express their – how you say – discontent with the national economy and employment sitch.
Fighting broke out on all corners of the square, with police snatch squads moving in to arrest ring leaders. Chants of “Sarkozy resign” were heard, as what appeared to be well organised gangs went on the rampage in surrounding streets, targeting banks and other symbols of capitalism.
Unrest has been building all year in France, with the first major economic protest having taken place back in January. Thankfully, the guillotines have not been reinstalled over at the Bastille just yet. That said, there was another incident that bears mentioning here.
Militant workers at a Sony factory in France took two of the firm’s executives hostage in a dispute over lay-offs. Serge Foucher, CEO of Sony France, and Roland Bentz, head of human resources, were only allowed to leave after being held at the factory in the south-west of the country for 18 hours. Sacked employees grabbed the executives after they arrived at the Pontonx-sur-l’Adour plant to negotiate their severance packages.
I’ll let that blurb speak for itself. When the mobs in Paris get going, the outcome has typically not been pretty for the First and Second Estates or the Bourgeoisie. Good luck, Sarkozy!
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I’m a New York City-based financial advisor at Ritholtz Wealth Management LLC. I help people invest and manage portfolios for them. For disclosure information please see here.
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