Panik was a french punk band from Paris. This is their only mini-LP. They were quite famous in the early 80's french punk scene.
"Histoire drôle" = "Funny story - it is the story of all these people - who laugh when they see me - and who die before their death"
"Festival" = it is about the annual movie festival in Cannes (France) - "Festival of the jesters - Festival of the money"