On 5/6, Francois Hollande, a socialist, was elected the new president of France. The country has not seen a Socialist Party president for 17 years, since the late Francois Mitterrand. Of course, one of the first thing that Hollande will do is to fight against German-led austerity measures, which is very similar to our Paul Ryan budget proposal.
Nicolas Sarkozy lost by 48.1% to Hollande’s 51.9%. The socialist victory in France is very symbolic. It seems to send a positive message to President Obama and seems to herald a change of wind in politics, with the upcoming of the socialist-leaning parties.
If Sarkozy was seen as “President of the Rich” and voters turned away from him, Obama can compare Sarkozy to his presidential opponent and label him as “politician of the rich” who is going to implement austerity measure by cutting deep programs that benefit the poor.
It will be interesting to see the impact of France’s new socialist president and the reactions of both parties here in U.S.