"Our Russian guests spend millions on handbags and designer bling and keep most of the shops on the Rue d'Antibes open; how secure are they going to feel if they know that Monsieur the Mayor may pop out and 'tut' at them? These measures will hit ordinary French people hard"Shares in LVMH fell again today on speculation that the tutting may affect the export of the most expensive and tasteless champagne brands and that sales to Russia will be hit badly. "The oligarchs are amongst the few people in the world prepared to pay $10,000 a bottle for third-rate fizz so long as the bottle is pink and has Swarovski crystals on it" said a spokesman for Louis Roederer.
Mr Hollande was still rejecting calls today for the tut to be downgraded to a frown. "France is committed to strong and meaningful sanctions" he said "and a frown just doesn't have the same impact as a tut".