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My guess is that the French Socialist Party, at least, is doomed by the level and the type of education its leaders received. Hollande attended the elite schools of France and was immediately on a path to government service. Unfortunately, he appears to have absorbed a French version of a Neo-Classical Economics along the way and never had the opportunity to consider the possibilities that such a training excluded - pretty much the same problem most US politicians have. But, because he did study at the elite institutions and did well, he resists considering the possibility that he was mis-educated in this area.

The result is that he cannot understand the economic problems France is facing due to being in the Euro-zone and having the policy of the ECB largely dictated by Germany. This is doubly unfortunate, as France is the one country that could force Germany to change course. And, unfortuantely, his views on economics are widely shared amongst French elites.

So he is just doing what he thinks is right and bravely soldiering on despite the plummeting popularity of his government - marching himself, his party and his country off a cliff and into disaster. It has the elements of classical tragedy.  

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere." (But it helps!)

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon May 30th, 2016 at 09:25:26 PM EST
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