Mr Hollande has been criticised for lacking direction, and his popularity levels have plummeted, since he took power in May.

BBC: Hollande vows to revive French supertax

The agency, lacking clear direction from Congress, is simply improvising, and dangerously so.

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Yet a messy compromise at a company that is so lacking in direction and so badly in need of restructuring would be the worst possible outcome.

ECONOMIST: Telecom Italia