French voters make historic choice for change

Marine Le Pen, President Front National. Photo: Global Panorama
Marine Le Pen, leader Front National. Photo: Global Panorama

Results of the first round of the French presidential election held on Sunday showed “traditional left and right ruling parties kicked out of electoral race for first time since postwar period”, with a duel between the National Front’s Marine Le Pen (21.4 percent) and centrist Emmanuel Macron (23.9 percent) set for the second round in two weeks, on Sunday, May 7.

Monaco’s French electors have been called to vote at the Saint Charles School on avenue Saint Laurent.

A total of 5,727 adults living in Monaco are entitled to vote in French polls, down by six percent since the last Presidential vote in 2012. Many of “Les enfants du pays” have lived for several generations in the Principality but are not Monegasque citizens.

Over the years they have missed out on many of the advantages of being Monegasque while at the same time their loyalties do not necessarily and automatically lie with France. Their numbers have slowly declined, largely due to the high cost of housing.

A symptom of this relative disaffection is the fact that voter turnout among this group is very low. Fewer than 50 percent of registered electors voted in 2012 (45.86 percent). Interestingly, the majority voted for outgoing President Nicholas Sarkozy, with almost 85 percent of the votes in the second round against Francois Hollande. It will be some time before their voting patterns are known for 2017.

Article first published April 23, 2017.

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MonacoTech to launch incubator and accelerator base

Photo: Manuel Vitali/ Communications Department
Photo: Manuel Vitali/Communications Department

The MonacoTech project has been presented to Monaco’s ambassadors, during their annual two-day conference, by its Director Fabrice Marquet. MonacoTech serves as an incubator and accelerator for startups in the Principality.

The project is working in partnership with Monaco Telecom and in connection with Xavier Niel’s Station F in Paris. The aim is to support innovative projects in Monaco, to create successful companies, and to help diversify the economic base and induce indirect economic spin-offs.

Local and international projects in any field related to technology, such as fintech, healthtech, smart city, connected objects, and so on, will be studied by a jury of professionals. In very practical terms, a space of 800 sqm will be able to accommodate 15 startups with a very favourable rent.

Startups will benefit from support in terms of advice, follow-up, support and financing during the initial stages of their creation. The call for applications will be launched in the week starting April 24, with the opening of the site planned for autumn 2017.

 

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Survey shows lower drug use among young people

Photo: Chuck Grimmett
Photo: Chuck Grimmett

The Government has received the results of the European School Survey Project on Alcohol and Other Drugs (ESPAD) survey carried out in 2015, in which Monaco participated for the third time. The results are seen as encouraging.

The ESPAD started in 1995 by the Swedish Council for Alcohol and Drugs Information, with the support of the Pompidou Group of the Council of Europe. Its aim was to collect comparable and reliable data in as many countries as possible in order to provide a solid basis for helping to put in place appropriate policies, in particular, aimed at young people. For example, tobacco smoking patterns, alcohol and other illicit drugs are measured for young European pupils reaching grade 16 in the year of study.

Conducted every four years, it allows a comparison of the consumption habits of the school children of the participating countries. Monaco participated in April 2007, 2011 and 2015. The Monaco Institute for Statistics and Economic Studies (IMSEE) took part with the assistance of the Management of Monaco National Education, Youth and Sports, under the supervision of the French Observatory for Drugs and Drug Addiction.

The conclusions of the ESPAD survey for the Principality highlights several points: the indicators are down compared to the previous survey concerning the experimentation with and regular consumption of alcohol, tobacco and cannabis although experimentation with and use of alcohol remains at relatively high levels. For tobacco and alcohol consumption, the gap between girls and boys is smaller in the Principality than elsewhere in Europe and cannabis is confirmed as the main product consumed among a range of illegal substances.

The Government believes that various campaigns to fight the use of illegal substances and alcohol have contributed to the downward trend in use. The entire ESPAD report is available at imsee.mc

 

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Sir Philip not yet out of the woods

Photo: Sir Philip Green, Chairman, Arcadia Group (Centre); Chris Grigg, CEO, British Land (R). Photo: Financial Times
Photo: Sir Philip Green, Chairman, Arcadia Group (Centre); Chris Grigg, CEO, British Land (R). Photo: Financial Times

Sir Philip Green is still at risk of losing his knighthood over the closure of the UK’s landmark BHS chain, according to arch-foe Labour MP Frank Field.

Almost exactly a year since the department stores closed, Mr Field said that Sir Philip – whose wife Lady Tina Green is a Monaco resident – has not done sufficient to hold on to his title, despite promising to pump £363 million into the distressed pension fund in a deal struck with the UK’s Pension Regulator.

“When Parliament comes back from the election, we need to pursue the charge sheet from The Pensions Regulator against him and what the Pensions Regulator got in return,” Mr Field said. “Sir Philip Green remains on the hook.”

“It’s rather good that Mrs May is waiting for all the reports to come in before she makes a recommendation to the honours forfeiture committee. The case against Sir Philip will continue in the new Parliament,” added Mr Field.

When the store chain collapsed, 11,000 high street jobs were lost and the pensions of 19,000 threatened.

Chairman of the Work and Pensions Committee, Mr Field stated, “We must have a proper pensions bill in the new Parliament to protect these assets. The pensions defect stood at £571 million when the chain collapsed.”

The chain was sold to former bankrupt Dominic Chappell in 2015 for just one pound. He has said: “Green took hundreds of millions out in 10 years, made little or no investment back, and stuck two fingers up at the pension trustees for 10 years. He has paid back only a fraction of what he took out.”

 

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