France PM Valls Survives ‘No-Confidence’ Vote, Pledges To Pursue Economic Reforms

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Wikipedia states that a vote of “no confidence” is a statement or vote which states that a person in a superior position is no longer deemed fit to hold that position.

This may be based on the person falling short in some respect or failing to carry out obligations, or making choices that other members feel are detrimental. As a parliamentary motion, it demonstrates to the head of state that the elected parliament no longer has confidence in (one or more members of) the appointed government.

“No Confidence” leads to compulsory resignation of the council of ministers whereas “Censure” is meant to show disapproval and does not result in the resignation of ministers.

The censure motion can be against an individual minister or a group of ministers or a prime minister, but the “no-confidence” motion is directed against the entire council of ministers.

Censure motions need to state the reasons for the motion while “no-confidence” motions do not require reasons to be specified.

The French government has survived a no-confidence motion in the lower house of parliament, triggered by its use of decree to bypass opposition to an economic reform bill.  Those for the no confidence vote did not get a majority.

German Consumer Confidence Highest In Eight Years

Photo: Brian Lawrence

Consumers in Germany are putting the country’s economic troubles behind them and looking to the new year with renewed optimism.

Consumer confidence in Europe’s largest economy improved this month, having stabilized in November after several months of decline, according to GfK.  In fact, German consumer sentiment hit its highest level in eight years as shoppers felt more upbeat about Europe’s largest economy going into 2015.

Market research group GfK said its forward-looking consumer sentiment indicator rose to 9.0 going into January from 8.7 in December, the highest reading since December 2006.

“Consumers apparently now assume that the period of economic weakness in Germany will pass and the domestic economy will return to growth in the coming months,” GfK said in a statement.

The reading is based on a survey of around 2,000 Germans, who give their expectations about pay and the economy in the coming months, as well as their willingness to spend money.

However, the research group warned that concerns about instability in Ukraine, Syria and Iraq and the Ebola outbreak continued to drag on the economy.