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Mediapart Mon 30 May 2016 30/5/2016 Latest edition

This French elite on a merry-go-round of fat-cat jobs

January 30, 2013 | By martine orange

The nominations last weekend of Anne Lauvergeon and Jean-Claude Trichet as France’s representatives on the re-vamped board of European aerospace and defence group EADS was anything but a surprise, argues Mediapart’s finance and economy specialist Martine Orange. Both are from an elite composed of graduates of France’s grandes écoles and former senior civil servants who are on a life-long merry-go-round of top jobs and fat salaries, and whose purportedly immeasurable talents have overseen the break-up and bankruptcy of the French economy.

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For the past 30 years, and whatever the government in power, a small elite in France have played musical chairs at the pinnacle of state-run industries and financial institutions, appointed from upon high and moving from post to post whatever their track record, argues here Mediapart’s finance and economy specialist Martine Orange, who outlines some recent examples of the gravy train that just keeps rolling on.