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Short honeymoon for Hollande after French election win
Reuters ^ | Sun May 6, 2012 11:10pm EDT | Catherine Bremer

Posted on 05/06/2012 10:55:18 PM PDT by Olog-hai

A victorious François Hollande faces a short honeymoon after his election as France's first left-wing president in 17 years, with financial markets eager for clear signals on his policies and how hard he plans to push back against German-led austerity.

The moderate Socialist beat conservative Nicolas Sarkozy with 51.7 percent of Sunday's runoff vote after a bruising campaign dominated by the same anger over economic crisis that has felled 10 other European leaders since late 2009.

While jubilant left-wing voters partied into the early hours of Monday in central Paris, Hollande admitted that for him, the festivities would have to be short-lived.

"There is a lot of joy and pride, but also apprehension at taking on this responsibility at a difficult time for the country and for Europe," he said. …

The new president is expected to be sworn in on May 15. As fears about the euro zone's debt crisis resurface following an inconclusive election in Greece, Hollande will travel to Berlin shortly thereafter to challenge Germany's focus on austerity policies and press new ideas for stimulating growth. …

Hollande must quickly outline his domestic plans, likely to center around a major tax reform, and revise over-optimistic growth targets which threaten France's deficit-cutting goals.

His plans to tweak a reform that raised the retirement age to 62 and increase the minimum wage are also rattling investors who fear France could drift away from the club of sound northern European borrowers and towards the debt-laden periphery.

(Excerpt) Read more at reuters.com ...


TOPICS: Culture/Society; Foreign Affairs; Government; Politics/Elections
KEYWORDS: eussr; france; hollande; socialism

1 posted on 05/06/2012 10:55:27 PM PDT by Olog-hai
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To: Olog-hai

Is he going to spend France out of debt like the Rat/Rino’s plan to do here?


2 posted on 05/06/2012 10:58:45 PM PDT by fella ("As it was before Noah, so shall it be again.")
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To: Olog-hai

To quote a song “Nothin’ from nothin’ gets nothin’”


3 posted on 05/06/2012 11:04:44 PM PDT by uncommonsense (Conservatives believe what they see; Liberals see what they believe.)
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To: Olog-hai

This proves you CAN beat somebody with nobody!!!


4 posted on 05/06/2012 11:11:37 PM PDT by SierraWasp ("Always vote for principle, though you may vote alone..." --John Quincy Adams)
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To: Olog-hai

Zero has dreams to do the same to us ... go ahead Romney haters... make 0mbamas dream come true...

I don’t like Romney but I know what 0bama has planned for us.

I am pinching my nose and one more time voting for the least worse...

I wish Texas could even make a dent in the Primaries, it is always over before we get a chance to Vote.

tt


5 posted on 05/06/2012 11:12:40 PM PDT by TexasTransplant (Radical islam is islam. Moderate islam is the Trojan Horse.)
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To: fella

Actually, he could take a page straight out of the US book and increase taxes on French companies...forcing them to consider leaving or leaving marginal profits for the share-holders. My guess is that you will hear more about this toward the end of 2012 when French economic results look even more dismal than they do today.


6 posted on 05/06/2012 11:23:46 PM PDT by pepsionice
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To: Olog-hai

“Moderate Socialist” is an oxymoron.

The French idiots don’t understand that they’re out of other people’s money. Socialism will lead to more misery and definitely bloodshed.

Yup, they’re French...


7 posted on 05/06/2012 11:31:08 PM PDT by piytar (The predator-class is furious that their prey are shooting back.)
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Au revoir!


8 posted on 05/06/2012 11:32:53 PM PDT by Casie
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To: Olog-hai
If “Sarkozy” is French for “Bush”, this guy can blame everyone but himself for the lousy economy for the next four years.

Anyone know if “Hollande” is French for “Obama”?

9 posted on 05/06/2012 11:39:44 PM PDT by Kickass Conservative (A day without Obama is like a day without a Tsunami.)
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To: Olog-hai

“The moderate Socialist beat conservative Nicolas Sarkozy...”

Talk about mis-categorizing both men!


10 posted on 05/06/2012 11:46:59 PM PDT by aquila48
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To: aquila48

“The French idiots don’t understand that they’re out of other people’s money. Socialism will lead to more misery and definitely bloodshed.”

Watch the gap between the french and german bonds jump - france is going to get crushed.


11 posted on 05/06/2012 11:59:07 PM PDT by JCBreckenridge
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To: Olog-hai

greece.francewhos next? they all wiil reject austerity eventually


12 posted on 05/07/2012 12:04:17 AM PDT by wiggen (The teacher card. When the racism card just won't work.)
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To: Olog-hai

I guess we have a lot in common with France now..they have a Socialist as President, and so do we..actually ours is a Communist but basically the same thing


13 posted on 05/07/2012 12:13:39 AM PDT by Sarah Barracuda
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To: Olog-hai

The French do get one thing right.

Their new president gets sworn in about one week after he is elected.

In the USA every time we boot a liberal out of the White House he gets 10 weeks to destroy evidence, steal us blind and leave booby traps and IED’s for the new president.


14 posted on 05/07/2012 12:28:43 AM PDT by Iron Munro (If Repub's paid as much attention to Rush Limbaugh as the Dem's do, we wouldn't be in this mess)
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To: Olog-hai
If we're lucky, the French economy will collapse between now and November, so people will get an idea of what 4 more years of Obama will look like.

Also, the collapse of the French economy while a Socialist is in office is icing on the cake...

15 posted on 05/07/2012 12:56:24 AM PDT by Cowboy Bob (Greed + Envy = Liberalism)
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To: Iron Munro

“Their new president gets sworn in about one week after he is elected.”

oh I’m sure if a conservative was ever elected there, they’d give the liberal 10 more weeks.


16 posted on 05/07/2012 12:58:36 AM PDT by ari-freedom
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To: Olog-hai

Ok he’s the president of Frabce it’s goning be what the Chamber of Deputies look like .


17 posted on 05/07/2012 1:31:33 AM PDT by mosesdapoet (The best way to punish a - country is let professors run it. Fredrick the Great p/p)
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To: Cowboy Bob

“If we’re lucky, the French economy will collapse between now and November, so people will get an idea of what 4 more years of Obama will look like.
Also, the collapse of the French economy while a Socialist is in office is icing on the cake...”

It will be explained that they inherited the problem from Bush!


18 posted on 05/07/2012 3:13:05 AM PDT by outofsalt ("If History teaches us anything it's that history rarely teaches us anything")
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To: piytar

Does the moderate socialist eat jumbo shrimp?

I think a moderate socialist drives the bus over the cliff at 40mph rather than 60 mph.


19 posted on 05/07/2012 4:34:10 AM PDT by almcbean
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To: Olog-hai

France has just moved Inspector Clouseau from the Surete to the Elysee. Hollande, “Mr.Wobbly Man,” has never run anything in his life - never a Minister, nothing. Reminds me of a certain American politician.


20 posted on 05/07/2012 4:40:45 AM PDT by Malesherbes (- Sauve qui peut)
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To: Olog-hai

Germany — close your borders, pull out of the Euro before it drags your economy down. Let France & Greece twist in the wind. Mop up the mess after it is all over.


21 posted on 05/07/2012 4:58:02 AM PDT by Londo Molari
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To: Londo Molari
,i.Mop up the mess after it is all over.

Heh, it occurred to me last night that if the Germans do it right, they could accomplish without firing a shot this century what they couldn't, twice, with whole scale destruction the last.

22 posted on 05/07/2012 5:07:21 AM PDT by Turbo Pig (...to close with and destroy the enemy...)
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To: Olog-hai
His plans to tweak a reform that raised the retirement age to 62 and increase the minimum wage are also rattling investors who fear France could drift away from the club of sound northern European borrowers and towards the debt-laden periphery.

So, in short, he's planning to turn France into Greece?
23 posted on 05/07/2012 5:12:14 AM PDT by rightwingintelligentsia (Be careful of believing something just because you want it to be true.)
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To: TexasTransplant

The French election and business
The terror
The 75% tax and other alarming campaign promises

Apr 7th 2012 | PARIS

EUROFINS SCIENTIFIC, a bio-analytics firm, is the sort of enterprise that France boasts about. It is fast-growing, international and hungry to buy rivals. So people noticed when in March it decamped to Luxembourg. Observers reckon it was fleeing France’s high taxes. It will soon be joined by Sword Group, a successful software firm, which voted to move to Luxembourg last month.

François Hollande, the Socialist candidate, and the current favourite to win the second and final round on May 6th, has promised a top marginal income-tax rate of 75% for those earning over €1m ($1.3m). He has declared war on finance. he pledges, corporate taxes will rise and stock options will be outlawed.

http://www.economist.com/node/21552219/print

May 4, 2012 4:32 pm
Wealthy French eye move across the Channel

By James Pickford, London and South-East Correspondent

Wealthy French people are looking to London as a refuge from fresh taxes on high earners pledged by candidates in the country’s presidential elections.

The “soak the rich” rhetoric that has punctuated the presidential campaign has prompted a sharp rise in the numbers weighing a move across the Channel, according to London-based wealth managers, lawyers and property agents specialising in French clients.

François Hollande, the Socialist “My true adversary in this battle has no name, no face, no party ... It is the world of finance.”

Inquiries from French clients had risen by roughly 40 per cent since the speech, says David Blanc, a partner at Vestra Wealth, a London-based wealth manager.

“I have definitely seen strong interest in what could be done to protect assets both for people resident in France but also for French nationals who are UK resident,” said Mr Blanc, a former UBS executive.

The prospect of a Gallic diaspora of high earners was backed up by Knight Frank, the property agent, which said numbers of French web users searching online for its prime London properties online in the past three months had risen 19 per cent compared with the same period last year. The equivalent figure for Europe as a whole fell 9 per cent.

“The election seems to have pushed a growing number of wealthy French to consider their options for where they are likely to base themselves in the future,” says Liam Bailey, head of research at Knight Frank.

http://www.ft.com/cms/s/0/278412e6-9538-11e1-8faf-00144feab49a.html#axzz1uC5T3LRP

French elite are fleeing Paris, to live in Brussels ‘tax haven’
02 May 2012

Faced with increasing hostility at home, France’s moneyed classes are taking flight to Belgium because they do not like either Hollande or Sarkozy - Brussels, on the other hand, seems to cater for all of the needs of the rich

France’s wealthy do not feel the need to wait for the outcome of their country’s presidential election; they are already voting with their feet. Convinced the rich will no longer be welcome under the next government, many are moving to neighbouring Belgium. Calls from France to tax lawyers and estate agents in Brussels are increasing in frequency by the week. When Socialist candidate François Hollande, the pollsters’ favourite, broke clear of incumbent Nicolas Sarkozy after the first round of voting - Brussels estate agents reported receiving up to 20 calls a day from French house-hunters. Most were looking to rent four and five-bedroom properties in the capital’s most desirable districts with an average budget of €3,500 a month.

Hollande - who famously said he “doesn’t like the rich” - wants to put up the country’s wealth tax; in French, impôt sur la fortune. Belgium, on the other hand “loves entrepreneurs,” says Brussels-based tax lawyer Manoel Dekeyser. Belgium’s salaried employees might suffer under some of the highest taxes in the European Union, but the fiscal system is quite forgiving for the cash-rich. “Half of all those who move to Belgium want to sell their company,” Dekeyser tells PublicServiceEurope.com . “They are usually aged between 40 and 50.” There is no capital gains tax in Belgium, meaning that those who sell a firm - provided they can prove residency - walk away with the entire profit. To preserve this money from France’s wealth tax, they often stay permanently in Belgium.

http://www.publicserviceeurope.com/print-article.asp?id=1876


24 posted on 05/07/2012 7:40:35 AM PDT by KeyLargo
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To: Olog-hai
>> his election as France's first left-wing president in 17 years <<

I see the Reuters writer has been in a coma for the last 17 years. Poor guy. He probably thinks Dean Martin is still performing too.

25 posted on 05/07/2012 3:54:08 PM PDT by BillyBoy (Illegals for Perry/Gingrich 2012 : Don't be "heartless"/ Be "humane")
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