New Delhi, Oct. 22 -- Even by the dysfunctional standards of France's recent political trajectory, it has been an eventful month in Paris. A prime minister resigned after failing to push through fiscal reforms but then was reappointed by President Emmanuel Macron to try again. The theft of jewellery worn by 19th century French royalty from the Louvre as the museum's doors opened on 19 October seemed like a metaphor for the country's problems.

A country that is a byword for high-end luxury has an economy dominated by companies such as LVMH and Hermes and an over-extended state. (A request for additional funding to better protect the Louvre had been pending for some time.)

The trouble is the very wealthy in France use their clout to fight...