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    France elects new President : Francois Hollande - Socialist

    Sarkozy is out, Hollande is in. Will this signify a turning point in Europe's long economic recession?


    Economic stimulus versus government spending cuts. Will he do it ? Can he do it? Will it work, if he does spend, spend, spend ? The end of the Euro Zone ?

    +8  Views: 1122 Answers: 11 Posted: 12 years ago

    11 Answers

    We have one too! Obama!! Socialist his modus operandi

    Mr. Hollande is the first Socialist to win french presidency since 1980.


    He is telling supporters his victory gave hope to an end of austerity and will focus on growth.


    He feeds a new sense of hope in the country, especially among the young, that amid austerity there can be jobs and salaries. Mr Hollande offers a new start - but the debt problems in France are still the same.


    It depends on renegotiationson the European treaty on budget dicipline agreed on by German Chancellor Angela Merkel and Mr. Sarkozy.

    digger

    Hope and change. Where did I hear THAT before?
    Ann

    Heard that before and now look where we are.

    Angela Merkel has told Hollande that the EC fiscal pact cannot be renegotiated, so where he is going to obtain the finance to rejuvenate the French economy is uncertain at this point.


    I suggest Americans make their vacations in France this year ; that will help.


     

    Ann

    Dont depend on the USA. We have our own problems.
    digger

    China has loads of cash available but I'm not so sure they want to upset the Germans.France's Debt/GDP ratio is a few points higher than Germany's at just over 85%. Any significant borrowing that is not quickly accompanied by serious tax revenue from economic growth would put them in USA territory of 103%. Greece sits at 160% and is destined to spiral into bankruptcy.
    Hollande's hands are tied.
    Ann

    Hollande said "I am the president of the youth of France to his supporters " You are a movement that is rising throughout Europe". He has promised to raise taxes on big corporations and people earning more than 1m euros a year. He wants to raise the minimum wage, hire 60 000 more teachers and lower the retirement from 62 to 60.Now we know why he won the election. I daubt if he will be able to keep any of his promises.

    Not too bothered about France, the Greek people have spoken in their election by voting in 20 Neo-Nazi MPs, times are getting a little scary in some parts of Europe.

    digger

    The Greeks have no clout in Europe and are so grotesquely indebted that nothing will work. But I agree that their situation is worrisome in that their extremist actions may spread to other European populace.
    ROMOS

    It seems it's rising all over Europe, as I said, things are getting scary again, these guys in Greece had a press conference after their victories and had all the journalists and TV crews who wouldn't give the Nazi salute thrown out by their own security.

    In the words of Margaret Thatcher: Socialism works until you run out of OTHER PEOPLES money.


     


    ""

    bowlesy

    i just wonder where you think maggie got her money from?
    TSC

    She was a chemist before becoming a barrister. (Lawyer)

    Tax the rich, protect the middle class and upgrade education…a socialist platform looks ok for now. It’s all a social experiment that is as reliable as the Titanic’s Madden Voyage regardless of who is in office. Just when things are going well, its “Full steam ahead” into the fog. Our leaders just don’t seem to understand that confidence and enthusiasm are warning signs, not signs of safety and security. The action that is called for is to shore up the foundations and proceed at a reasonable pace.

    bowlesy

    exactly, we must get away from the boom and bust idea of government.
    TSC

    Socialism ahs never worked ANY WHERE on the planet.
    digger

    @Robert. long-term speaking, you're right. Unfortunately,the unemployed have short-term needs. Somehow, it has to turn around sooner than later.
    digger

    @ TSC It depends on one's definition of "socialism". If massive government spending is what you mean, FDR's New Deal didn't work out that badly. Not that I agree with this economic measure. There are plenty of other examples when the opposite effect resulted.

    That's a pretty clean looking urinal. You don't think that..........Naaaaahhh

    digger

    Sorry folks. wrong button.

    It is huge nail into the European Union coffin which, unfortunately will have a bad impact on the rest of the world.

    bowlesy

    afraid your right, theres no quick fix.
    digger

    That's becoming a more possible scenario. Who would have thought it just a few short years ago?

    The French have a history of staggering ups and downs, lousy leadership and the rare saving grace. 

    Tax the rich, protect the middle class and upgrade education…a socialist platform looks ok for now. It’s all a social experiment that is as reliable as the Titanic’s Madden Voyage regardless of who is in office. Just when things are going well, its “Full steam ahead” into the fog. Our leaders just don’t seem to understand that confidence and enthusiasm are warning signs, not signs of safety and security. The action that is called for is to shore up the foundations and proceed at a reasonable pace.

    Yes, and now they are bankrupt, just like the rest of Europe. 



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