Earlier this morning, those expecting an out of control European deflationary tumble got one step closer to their goal when French President Francois Hollande asked his prime minister, who only assumed the post a few short months ago in March, to form a new government, following what Reuters reported was him “looking to impose his will on the cabinet after rebel leftist ministers had called for an economic policy U-turn” spearheaded by economy minister Arnaud Montebourg demanding an end to French “austerity.” The Guardian is somewhat more direct and to the point: “France has entered uncharted political waters after the prime minister, Manuel Valls, presented his government’s resignation amid a political crisis triggered by his maverick economy minister who called for an end to austerity policies imposed by Germany.”
