Apparently there’s something called the The Kübler-Ross model to describe this sort of situation.
Good stuff, but I’ve amended it somewhat to customize it for the French government:
1) arrogance tinged with regret for the defeat of Napoleon and the disappearance of a time when France ruled Europe
2) grandiose plans and folly based on contempt for democracy, history, expert economists and commonsense
3) slow but accelerating decline with constantly higher than average unemployment and vast tax burden under the largest civil service per capita in Europe
4) complete denial as an ecnomic death spiral gradually gathers force
5) as arrogance turns to lunacy a decision to work less so as to create more jobs
6) blaming the Anglo-Saxons and anyone else you can think of
7) childish anger and pique
8) endless cunning plans and sucking up to Germany
9) dawning of realisation
10) depression & repeated bilious lashing-out at Anglo-Saxons
11) sovereign default, riots and near-revolution put down by the CRS
13) retirement with VAST pension to country chateau renovated at public expense
So, not ALL bad news for Snarlkozy then …..