The French propensity to blame Anglo-Saxon speculators, particularly those in London, whenever the politicians aren't getting their way, is well known. Never mind the fundamentals, if the economy hits choppy waters, it's London's financial markets that are invariably found to be the culprits.
As long as widening eurozone bond spreads were confined to the periphery, it was possible to blame lazy Greeks, feckless Italians and rotten government for the euro's travails. They'd brought it on themselves. But now the phenomenon has spread to the French core, and is even lapping at the edges of the mighty Germany itself, an older enemy has been identified – les speculateurs, lodged like pirates, in their offshore haven across the Channel.
