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Hollande's victory: The world ponders a major shift

François Hollande's victory may represent change for not just France, but Europe as a whole.

The Telegraph (Britain)

Le grand mensonge: why François Hollande's end-to-austerity message is just smoke and mirrors, Dan Hodges

“Salutations to President Hollande. His victory is a personal triumph, a boost to the European Left, and a fillip for France. Whatever the reaction of the markets, and the nervous resident of the Bundeskanzleramt, he has brought an appropriately abrupt end to the one-term presidency of Nicolas Sarkozy.
…

But welcome though François Hollande’s win may be, there is no ignoring one unfortunate fact. It has been built upon a lie. Or rather, if Monsieur Hollande has not been guilty of lies, he has certainly been economical with the actualité (truth).

‘Austerity can no longer be inevitable!’, he shouted to his jubilant supporters. ‘In all the capitals … there are people who, thanks to us, are hoping, are looking to us, and want to finish with austerity.’ Yes, well, we’d all love to finish with austerity, mon chef. But we’re not finished with it. Not by a long chalk.

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We can debate the scale and pace of deficit reduction. But we cannot wish away austerity in Britain or France or Greece or anywhere else. Austerity is not an economic choice, it is a fact of life, and it will be for many years to come....[One] thing is certain; a prolonged period of austerity will be as much a part of Hollande’s France as it was Sarkozy’s. ”

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Mark Sappenfield
Editor

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