Can Sarkozy and Brown kiss and make up?

Will Sarkozy be forgiven for his assaults on "Anglo-Saxon" capitalism?

With Anglo-French relations at their lowest ebb since Jacques Chirac declared that Britain had the worst food in the world (after Finland), Nicolas Sarkozy and Gordon Brown have co-authored a piece in today's Wall Street Journal in an attempt to repair the entente cordiale.

The latest quarrel began, you may remember, after Sarkozy launched a polemical assault on the "unconstrained Anglo-Saxon market model". With unrestrained glee, he declared that the appointment of the Frenchman Michel Barnier as the EU's financial regulation chief promised "victory" for the "European model".

Do you know what it means for me to see for the first time in 50 years a French European commissioner in charge of the internal market, including financial services, including the City [of London]?

I want the world to see the victory of the European model, which has nothing to do with the excesses of financial capitalism.

It will stand as one of the ironies of history that the man who came to power promising to do for France what Thatcher did for Britain has transformed himself into one of the most vociferous critics of Anglo-Saxon capitalism. But like his Gaullist predecessors, he has found the rhetorical appeal of the dirigiste tradition too heady to resist.

Perhaps unexpectedly, today's article isn't the bland or incoherent work it might have been. The solid social-democratic belief that the market is a good servant but a bad master underlines their appeal for a "new compact" between global banks and "the society they serve". And both are right to call for European states to introduce a one-off tax on bank bonuses.

The pair will meet on the fringes of the latest EU summit, with one diplomat commenting: "I think it'll be fine. In two years, you'll be wondering what the fuss was about."

If you accept Harold Wilson's dictum that "a week is a long time in politics", then two years is a rather long time for both sides to forgive and forget. Sarkozy and Brown would do well to begin with a new compact between themselves before turning to casino capitalism.

 

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George Eaton is political editor of the New Statesman.

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Ignored by the media, the Liberal Democrats are experiencing a revival

The crushed Liberals are doing particularly well in areas that voted Conservative in 2015 - and Remain in 2016. 

The Liberal Democrats had another good night last night, making big gains in by-elections. They won Adeyfield West, a seat they have never held in Dacorum, with a massive swing. They were up by close to the 20 points in the Derby seat of Allestree, beating Labour into second place. And they won a seat in the Cotswolds, which borders the vacant seat of Witney.

It’s worth noting that they also went backwards in a safe Labour ward in Blackpool and a safe Conservative seat in Northamptonshire.  But the overall pattern is clear, and it’s not merely confined to last night: the Liberal Democrats are enjoying a mini-revival, particularly in the south-east.

Of course, it doesn’t appear to be making itself felt in the Liberal Democrats’ poll share. “After Corbyn's election,” my colleague George tweeted recently, “Some predicted Lib Dems would rise like Lazarus. But poll ratings still stuck at 8 per cent.” Prior to the local elections, I was pessimistic that the so-called Liberal Democrat fightback could make itself felt at a national contest, when the party would have to fight on multiple fronts.

But the local elections – the first time since 1968 when every part of the mainland United Kingdom has had a vote on outside of a general election – proved that completely wrong. They  picked up 30 seats across England, though they had something of a nightmare in Stockport, and were reduced to just one seat in the Welsh Assembly. Their woes continued in Scotland, however, where they slipped to fifth place. They were even back to the third place had those votes been replicated on a national scale.

Polling has always been somewhat unkind to the Liberal Democrats outside of election campaigns, as the party has a low profile, particularly now it has just eight MPs. What appears to be happening at local by-elections and my expectation may be repeated at a general election is that when voters are presented with the option of a Liberal Democrat at the ballot box they find the idea surprisingly appealing.

Added to that, the Liberal Democrats’ happiest hunting grounds are clearly affluent, Conservative-leaning areas that voted for Remain in the referendum. All of which makes their hopes of a good second place in Witney – and a good night in the 2017 county councils – look rather less farfetched than you might expect. 

Stephen Bush is special correspondent at the New Statesman. He usually writes about politics.