He’s a socialiste, so he must tax the rich if he is to stay true to his ideology. Yes, there will be austerity, but it will be because of economic contraction from a shrinking private sector.
I don’t think that the markets have ‘priced this in’. The euro will drop and the EU will become unglued. Germans still want to save and they want a strong currency. This appears impossible now with Greece, Italy, Spain, Portugal, and now La France.
“Germans still want to save and they want a strong currency. This appears impossible now with Greece, Italy, Spain, Portugal, and now La France.”
This is why I believe Germany will be the first to leave the Euro. If they don’t, they will end up with a pile of worthless debt from the other Euro countries.