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the man. I did not vote for Sarkozy either. I was one of those observers (Bernard, Migeru also coming to mind) who was deeply skeptical of Candidate Hollande, especially once he had named Manuel Valls to head up his campaign. The writing was on the wall then.

Some called him the French Zapatero, after the social democrat leader of Spain who committed political suicide by pushing through Merkozy's austerity pact. I think this is being too charitable to François Hollande. After all, Zapatero's negotiating position was very weak within Europe, this was before the ECB was doing its job as lender of last resort, Spanish long-term yields were in the 6/7% range.

François Hollande did not have that weak position, in fact, France probably has the strongest negotiating position in Europe bar Germany. It is a testament to his poor statesmanship that he made such a glaring error as to accede to the Austerity pact after having promised to renegotiate it.

I never thought I would live to regret President Sarkozy, but I do.

by John Redmond (Ladybeaterz@NolesAD.com) on Fri Jun 17th, 2016 at 09:22:41 AM EST

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