Hollande elected French president

I do not agree that it is a humiliating defeat. Despite all prognostic, despite the economical crisis, despite the reject of Sarkozy's personality, the end gap is very narrow. If you add up people who would normally have voted for the right wing candidate but actually rejected Sarkozy, this could have led to a defeat of Hollande. Next elections to parliament will be crucial. Now that Sarkozy has gone, who knows what will happen. I cannot accept comparison with Greek situation. At least in France people do day their taxes and black economy is far marginal. In the past, it took 14 years to his supporters to understand that Mitterrand was a lier and fooled them. I hope it will be quicker here. Never forget that 48.3% of French people voted against Hollande...

Divestiture is already taking place in France, but then most people I know pulled their investments in European markets out months ago. Oddly enough the idea of reducing the hours in a work week, increasing taxes, and increasing debt are not very good ways to make people want to invest in your country.

It would be like inviting me to your business, offering me an old half-consumed bottle of water, then charging me to use your dirty restroom, and when I complain about it you tell me that things would be better if I had only given you more money. Yet for some reason it's still a mystery as to why I decided to take my business elsewhere.

Kiss Europe goodbye. Prepare to welcome fleeing one percenters!

For all the cries of "austerity", under Sarkozy the french would STILL have been accumulating debt every year for the next 5 years. There wasn't even a balanced budget on the horizon. It's ridiculous to call it "austerity" when all that is happening is that the rate of debt accumulation is being temporarily slowed down. Year on year spending still rises. The total debt rises to over 80% of GDP. The largest single item on the national budget is STILL the cost of servicing the debt- paying interest on it, not doing anything to actually pay it off.

It's sadly ironic that so many European countries have spent 50 years developing wonderful and all encompassing social programs. Only to have them collapse within a generation, due to their unwillingness to make babies. The only way these programs can be sustained is through ever increasing population to share the costs. France, like other countries, is entering a demographic death spiral that is almost impossible to escape from.

okimike67

The public doesn't want to admit that it has to be more fiscally responsible!

um... correct me if I'm wrong but the elected President won on tax increases and a plan to not butcher his homeland with blatant austerity measures that favour only the rich but work it out in a rational manner.

Conservatives have swindled the world, especially Europe. France has answered back, with I might at 81.5% voter turnout. It may result in bolstering similar removals from other countries. Then the scam artist conservatives will have no quarter

"Also, for all of you pro-austerity types, please look at the UK, which is not directly part of the Eurozone and implemented deep austerity measures."

Actually no, UK austerity has yet to begun. They aren't spending any less now than they have been over the past few years. Furthermore, Germany has reduced total outlays and yet they are model economy that the rest of the EU wants to feed off of.

"focus more on growth"

I hope France's debt doesn't get more growth.

Lowering the retirement age does not make much sense if the population is getting older.

Unless he has some idea like increasing tobacco sales with reduced tax for older workers.

Meet the new boss. Same as the old boss...

@Jack

The French celebrate by chanting "Sarko, it's over!" in Paris, this sums up the whole election, because it explains why Hollande was electioned, not from his policies but from anti-Sarkozyism.

This is how almost any election with an incumbent works. It almost always has less to do with the policies of the challenger than the policies of the incumbent.

Also, for all of you pro-austerity types, please look at the UK, which is not directly part of the Eurozone and implemented deep austerity measures. Please look at how it's growth rates aren't any better than the US or other countries affected by these problems. Austerity and reducing spending are not a panacea for a bad economy.

Mr Hollande capitalised on France's economic woes and President Sarkozy's unpopularity.

The Socialist candidate 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 age from 62 to 60 for some workers.

OBAMA IS USING THE SAME PLAYBOOK!

Many of the socialists alive today will never change their beliefs and will romanticize their past till their dying days. Expect change to come from younger French etc who want a better future and are willing to try something different, even if it means immigrating off the continent. Too bad Germany as a major casualty of a euro collapse cannot as easily leave the EuroZone as Greece can be forced out to enters into economic catastrophe, change its ways and eventually rebuild itself.

Why should I work? Let all those working stiffs pay my bills. I am entitled to their money.

The French have gone back to a Socialist government that will again end up bankrupting the nation.

In the short term the French will be happy with their increased benefits - but everyone knows that is unsustainable in the long run.

The French celebrate by chanting "Sarko, it's over!" in Paris, this sums up the whole election, because it explains why Hollande was electioned, not from his policies but from anti-Sarkozyism.

Meanwhile, far right politics will grow under Marine le Pen as more will become frustrated by being ignored by the less extreme centrist political parties - 5 years time I predict she may very well end up being a serious candidate for the Presidency - Will this be good for France? I don't think so either.

The election of Socialist Hollande and similar anti-austerity result ib Greece clearly shows the effect of dole-dependency, the entitlement mentality that develops from long-term government handouts. The politicians that promise the most wealth-distribution policies effectively buy votes of the those who stand to receive the loot.

The results of these elections will just hasten the failure of the eurozone and the whole house-of-cards which is the ECB/IMF. Just watch as it implodes.

Here goes the baguette and welcome the fromage (French soft milky cheese). The mass tends to blame the incumbent thus looking for quick fix. Watch out, French might borrow a page from Greece, Portugal, and Spain. It will open the door for the European Islamist to further weaken the whole European continent. Remember, this time America might not be able to jump in as during WWII, since the Russian is playing his own game.

People shall pay their debt, else become like Argentina, or Greece...of course. My new President will need to learn that spending other's money is not sustainable. France is now just a meter away from edge of a cliff. Good luck we will need!

It is the end of Merkozy. With Hollande, all the German plans for fiscal restraint in the EU are now in the trash. The PIIGS and unlimited deficit spending rule.

How long this insanity can go on depends entirely on Germany. Either the German government has enough and stops bailing out the PIIG countries, or Germany goes bankrupt and stops bailing out the PIIG countries.... whatever comes first.

Either way, this is another step towards economic meltdown in Europe.

Congratulations for Mr. Hollande! It is indeed a time for integration and change of direction in Europe. This is absolutely great news and we can now pop open the champagne. He will now retire from politics after losing the confidence of the French people. This is exactly what happens when the economy goes downhill and many people become un happy.

Sign of the times...... The public doesn't want to admit that it has to be more fiscally responsible! Those that promise more handouts (read socialist nation building) will garner the most votes. This has just been proven in France, DESPITE recent events in Greece/Italy and others coming. Now add France to this list.

Obama is reading the same script and America will follow the same path of Greece/Italy/France... if spending is not controlled! Yet, despite the overwhelming evidence, Obama is continuing to raise spending and promise more to the masses. Worked in France, why not America??