France

Anglo-French relations could hamper negotiations over UK nuclear power stations. Image by Getty

Another European summit, and another step in the progressive disengagement of the UK from the core of Europe. I wonder if the UK government appreciates the impact of what is happening on the real world of business? Let’s take just one example. Relations between Britain and France are at a very low ebb. No one is throwing plates but there is now a mood of mutual indifference, which, as anyone who has lived through a bad marriage will tell you, is worse.

I was in Paris this week visiting the Banque de France. The Banque’s senior management were as ever exquisitely polite, but the sense of distance from the UK was unmistakeable.

Anglo-French relations are always complicated but the current round of problems really began with Franςois Hollande’s visit to London at the end of February. Mr Hollande was at that time a candidate rather than Le President de la Republique. He was clearly ahead in the polls and judged likely to win by the most experienced observers of the French scene. But Mr Cameron, usually a model of politeness when it comes to personal relations, refused to see him. Read more

Few countries can afford to turn away from the prospect of developing 5bn bbl of oil, but France, as ever, is exceptional. François Hollande, the socialist president, has refused to allow hydraulic fracking. In France, fracking is associated in the public mind with shale gas – a form of energy which is thought of, alongside Anglo-Saxon banks, McDonalds and other manifestations of globalisation, as fundamentally un-French and therefore bad.

France has plenty of shale gas which will now never be developed, presumably. The president’s announcement did not mention the country’s ‘tight oil’ resources. The question being asked in Paris is whether Mr Hollande knew just how great the prize of tight oil could be. Read more

By the end of this week bids must be in from the consortia seeking to develop the UK’s new generation of nuclear power stations. It is decision time but the irony is that the key decisions will be taken in Paris rather than London. Read more