Thus Der Spiegel today. “Moody’s on Monday slashed France’s top credit rating, becoming just the latest institution to cast doubt on the country’s ability to reform its inflexible labor market and boost growth,” explains the newspaper. “French President François Hollande has promised change, but markets have yet to be convinced.” Indeed. Boosting growth is but a pipedream in France at this juncture, anyhow. Which is why I cannot but think of Jacques Attali, who has done his best to boost growth in his country only a short while ago. Having advised Nicolas Sarkozy for years on this particular subject, though, he has utterly failed. Still, his optimism remains exemplary. Would that his belief in growth captured his compatriots while there was still time to do anything about it. Pace Attali, but the game is now over. Alas, optimism is kind of passé!