France’s Francois Hollande Makes War On Austerity

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The war among politicians between the economic values of austerity and stimulus heated up more. French presidential candidate Francois Hollande said German leader Angela Merkel cannot decide the financial fate of Europe on her own. Bloomberg quotes Hollande as remarking “It’s not for Germany to decide for the rest of Europe. I’m getting a lot of signals, direct and indirect, from other governments, even if they’re conservative.”

Hollande must not have reviewed the financial plights of Greece, Italy, Portugal, and Spain. Germany still provides the largest portion of capital for the financial bailouts of these nations.

Current French president Nicolas Sarkozy was dragged along with Germany as it set austerity measures for the EU. He may have held a different vision for how Europe could repair itself. He did not have the money to challenge Merkel. Neither does Hollande.