One of the reasons for the scarcity of blog updates on this site is that I have been spending an inordinate amount of time going backwards and forwards to Brussels on the fascinating subject (at least to me) of the planned regulation of derivatives; and occasionally on other subjects of interest to corporate treasurers, such as the SEPA system (yea – a standardised structure for payments in Euros within the eurozone). More of all that – and more frequently – in my ‘professional’ (EACT) blog.
Unusually I was in Paris rather than Brussels today. Still on treasury matters – indeed, the regulation of derivatives. But it was a different day in several respects; I had one meeting and was then a free agent – hence in particular the reference below to a good lunch.
My trips to Brussels and Paris involve Eurostar of course (three cheers for Eurostar – whose reliability in my experience is great but I know of course that when things go wrong they go seriously pear-shaped).
Some reflections triggered by the visit to Paris:
1) How good it is to deal with the Dutch. My meeting was with a very senior European (Dutch) regulator. Detail is unnecessary here but the conversation was straightforward and the areas of ‘legitimate concern’ recognised and respected. Would that all my contacts on European issues were like this.
2) Franglais advances despite all the best intentions of parts of the French establishment. The very wonderful Steve Coogan and Rob Brydon have a new film out in Paris. Look carefully at the top of the poster advertisement to see how the film is described:
3) Lunch remains important. I had steak and frites in Polidor, a wonderful secret discovered by my father-in-law when he was a student in Paris before the end of the 1930s. What more needs to be said:
4) And finally a more sombre reflection. I have always thought that the underclass of Paris is more acutely deprived than that in London. I am reminded of this every time I use the public transport system (underground and not the buses – the latter seem to remain the preserve of middle-class Paris). And I had noticed that the ‘RER’ system – the underground lines with fast and limited stop services – is particularly heavily used by people clearly at the margins of above-ground Parisian society.
An excellent piece in today’s Independent by John Lichfield makes just this point and explains it in the context of how the RER system in Paris has developed. The lines link the multiracial banlieues – neglected, as has been the RER, by French governments of left and right. So in John’s words the RER has become, outside the rush hours, part of the banlieues.
I still love going to Paris but I wonder how life there will evolve for all Parisians – above and below ground.








