Au revoir, Sarkozy. Bonjour, Hollande!
With 51 percent of the vote François Hollande
is now the new president of France. The first socialist president since
François Mitterrand left office in 1995, Hollande intends to "give a new
direction to Europe." Though the crowds in France are now celebrating this victory, investors
are holding back: They are afraid he might choose to spend more money to
jump-start the economy, instead of imposing the business and labor reforms that
French economists believe are essential in preventing France from getting caught
in the euro-zone crisis. Hollande's negotiations with Germany
will make or break his prospects for the next few years.
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