HaHaHaHaHa....French socialist Prime Minister Francois Hollande is deeply embarrassed by the discovery that his finance minister has been avoiding income tax by having a secret bank account in a foreign tax haven.
Hollande's government came in with a heavy-handed tax-the-rich policy that has in one year driven thousands of the wealthiest French citizens - including actor Gérard Depardieu - abroad. His left-wing policies offered nothing but a rhetoric of guilt and blame towards those who wanted to keep what they earned, and disgrace for those who looked for ways to minimize tax.
Jerome Cahuzac was the finance minister in charge of pushing through this left-wing policy, yet he has just been exposed as possessing a secret foreign bank account containing 600,000 euros. Not only that, but it seems that Monsieur Cahuzac lied about it repeatedly when questioned by journalists.
This is a double scandal as it has also been revealed that Jean-Jacques Augier, Hollande's election campaign treasurer, is a joint owner of two firms registered for tax purposes in the Cayman Islands.
M. Hollande's popularity ratings have fallen to 27% since he came to power ten months ago.
One last chorus of The Red Flag, anyone? It's not as red as Hollande's cheeks.