According to Eddie Felson, a semi-retired professional pool player, also known as “Fast Eddie”, (played by Paul Newman, in Martin Scorsese’s "The Colour of Money"), “Money won is twice as sweet as money earned”.

In the midst (hopefully not the beginning) of the most severe depression since the 1930's, one can only ponder this somewhat cynical aphorism, which was axiomatic in the "Casino" (Scorsese) economy of the last 20 years.

The models are broken, the think tanks are dry, ideologists are struggling, and futurologists are in the fog. Thankfully there are still astrologers... 2009 is the year of the buffalo (per the Chinese calendar).

The reconstruction of a new economic and geopolitical worldwide order, following the financial Titanic of last year, won’t be easy and it will take time. What is clear it that reheating the soufflé will not be good enough. Neither will a Keynesian recovery based upon a revival of the global use of badges, t-shirts, good luck charms and caps with the logo “Yes we can"...

We are not talking Leontieff cycles here; it’s a global crisis of the economy, ecology, politics, diplomacy, and social values.

A young, bright American president seems to symbolise hope and the future for a new and better world. A global by acclaimed (well nearly) President for global hope in a globally changing world?

Half Roman emperor, half pop star, Barack Obama has been a master at projecting his image as ideal son-in-law, a charmer, both charismatic and good looking - the kind of success story the Americans love. “Nothing succeeds like success”! Abroad, his popularity approaches idol worship - Obama a new messiah, a living icon. For the benefit of readers outside of France, the proliferation of Obama T-shirts in the Paris metro is such as to elevate the man to virtual status as an American Che Guevara !

Let's not turn our noses up - politics is also about totemism and the "méthode Coué". In certain respects, his mission has already been fulfilled (by providing a ray of hope). In times of tribulation, F D Roosevelt once said, the only think we have to fear, is "fear itself".

After the… Age of innocence... (Scorsese again) the toughest part for Magic O. and his colleagues from the G20 is starting i.e. to rebuild a new order with a new flexible (visible?) governance guiding the invisible hand. The French poet Valery used to say that the world is permanently threatened by 2 dangers: order and disorder! A simple matter, then, of finding the right balance...

A global crisis requires global solutions and what is true at macro level is also true for business. In times of turbulence and uncertainty, good advice and legal support is essential and will help in circumventing avoidable mistakes and to prepare for a post-recession economic landscape.

At Hammonds, we have teams of reactive and pragmatic lawyers who are always on hand to meet your expectations and help you in achieving your goals.

From Hammonds Hausmann in Paris we provide a comprehensive service to corporate clients with genuine expertise in French and international commercial law in a manner accessible to both the overseas and French clients.

Never hesitate to contact us; we remain, more than ever, at your disposal.

Naturally any resemblance in the above to actual people is strictly intentional but the opinions are only those of the author… “ Bonne lecture” of what we hope to be an informative (although not necessarily exhaustive) review of highlights from the land of the Code Civil and… A Bientôt !