What French Election Result Means For US and the World.....

[MMC]

http://l3.yimg.com/bt/api/res/1.2/N3K5PReCStlRUG1ntI2N0w--/YXBwaWQ9eW5ld3M7Y2g9MTMzMjtjcj0xO2N3PTE4ODQ7ZHg9MD tkeT0wO2ZpPXVsY3JvcDtoPTEzNTtxPTg1O3c9MTkw/http://media.zenfs.com/en_us/News/ap_webfeeds/8cf8153aca7ee40c0e0f6a7067008db0.jpg

French voters chose Socialist Francois Hollande as their new president Sunday in a race that will have implications for Europe's debt crisis, the Afghanistan war and global diplomacy.

EUROPEAN DEBT CRISIS
Hollande could reshape the debate in the 17-nation eurozone. Until now, France and Germany — led by Sarkozy and Angela Merkel — have set the agenda on how best to restore troubled state finances and sluggish growth across the continent. The "Merkozy" solution: More cost-cutting to bring down debts and reassure markets. Hollande's solution: government-sponsored stimulus to revive growth.

TAXES
Hollande wants the very rich to pay 75 percent in income taxes and plans to hike taxes on companies that distribute profits to shareholders instead of investing in their business. Sarkozy had pledged to reduce France's overall tax burden, among the highest in Europe, but promised a higher sales tax.

IMMIGRATION
Sarkozy wanted to halve the number of legal immigrants who enter France each year to 100,000 and to tighten border controls. Hollande would give residency to illegal immigrants on a case-by-case basis. The immigration debate has gotten tangled with a debate about Islamic customs in strongly secular France, home to at least 5 million Muslims.....snip~

http://news.yahoo.com/french-election-result-means-us-world-214153254--finance.html


What will the Implications be? How will this affect Obama's Foreign Policy Moving Forward? Will Hollande be as friendly with Obama as Czarkosy was?

[RollingWave]

Well Hollande's more to the left of Sarkozy, but he also seems less willing to be an active player on the international stage.

in the very short term this is pretty bad, stocks basically fell like a world record domino show today, most stocks dropped around 2%(!) , as Hollande is likely to reverse the austerity measures put in by Sarkozy, and this might mean a very big amount of uncertainty for EU policies goign foward, not helping matter is that the Greek ruling coalition suffered an even more devastating defeat (Sarkozy had only lost by like 2% of the vote, the Greek ruling coalition essentially saw their support halfed). which seems probably that the Greeks will just bounce all their promises going forward (I fully suppose that Germany just go all Nazi on them and rob their treasury or something :grin:)

Hollande's purposal is essentially to print their way out of this mess, aka reduce real debt by inflating avalible money. this obviously works, but then we'd better be prepared for some 1960-70 style inflation going foward.

[Mainecoons]

A lot will depend on the Parliamentary elections in June. Present polling indicates the socialists will win that one too.

What has happened in France is a good thing. It will be yet another demonstration that liberalism/socialism always fails. Not that I think liberals are capable of learning from any number of graphic demonstrations of same. Since they've already assured us of their superior intellects, I can only surmise that they are unable to learn because they're just too smart.

I'll leave it to you all to figure out how that works. I'm not smart enough. :grin:

[MMC]

Government sponsored stimulus......does this mean more than just print money? Also there is the issue of him wanting to raise taxes to 75%. Wouldn't Team Obama like hearing about Taxes being raised? Wouldn't Democrats just luv to hear that type of shit? Or to hear those on the right talking about that it is good to raise taxes?

Yeah I heard markets nose-dived as they got word.

[MMC]

Hmmmm CL.....did you see this. This morning? :wink:

[Conley]

If I did I probably wouldn't have started that thread on Hollande. :grin: I don't know where my head was this morning, I think I was still recovering from Cinco de Mayo. I haven't had much in years and I still feel dirty about it.

[MMC]

http://i.imgur.com/8x6ot.gif

:evil: Maybe you could put yours and mine together. Whatcha thinks? :grin:

[Conley]

Haha, you are not allowed to use the weapons I've given you against me! Now I know how Rumsfeld felt with Saddam! :angry: :laugh:

[Peter1469]

This is a strike against the Eurozone. I imagine that Germany is closer to walking.

[BlackAsCoal]

This is good news for planet earth.

Capitalists are warmongering monsters .. as was Sarkozy.

The world is waking up.

[MMC]

Haha, you are not allowed to use the weapons I've given you against me! Now I know how Rumsfeld felt with Saddam! :angry: :laugh:



http://www.youtube.com/watch?v=Qw9oX-kZ_9k

:f_cheers:

[Peter1469]

The Eurozone is decidedly undemocratic and Sarkozy is a socialist. Hollande is closer to Marxism.

[RollingWave]

On the other hand...

152

France real GDP groth since 1981 (when the last Socialist President was in office) the red line marks roughly the end of Mitterand's Presidency... it's hard to say that France done better since then or that Mitterand's presidency was some sort of catastrophy.


Meanwhile, from 1981-1995 France's average unemployement rate was 9.3% ish from 1996-2010 it's 9.5% and the last 2 years is obviously only going to pull the average up.

So the short conclusion is... it's basically the same thing. if anything the Socilaist era might have actually been slightly better.

[Peter1469]

On the other hand...

152

France real GDP groth since 1981 (when the last Socialist President was in office) the red line marks roughly the end of Mitterand's Presidency... it's hard to say that France done better since then or that Mitterand's presidency was some sort of catastrophy.


Meanwhile, from 1981-1995 France's average unemployement rate was 9.3% ish from 1996-2010 it's 9.5% and the last 2 years is obviously only going to pull the average up.

So the short conclusion is... it's basically the same thing. if anything the Socilaist era might have actually been slightly better.

I know that the French Presidents since 1981 were not from the socialist party. But they were very much influenced by socialism and the idea that any problem is best tackled with a government program. There are no conservatives in French Politics (not as the term is used here). In France conservative means nationalist and racists.