Cross posted from The Stars Hollow Gazette
“Europe is watching us, I am sure that when the result was announced, in many European countries there was relief, hope and the notion that finally austerity can no longer be the only option.
“And this is the mission that is now mine — to give the European project a dimension of growth, employment, prosperity, in short, a future. This is what I will say as soon as possible to our European partners and first of all to Germany, in the name of the friendship that links us and in the name of our shared responsibility.”
“We are not just any country on the planet, just any nation in the world, we are France.”
~François Hollande, President-elect of France~
François Hollande is the new President of France defeating Nicholas Sarkozy. With half the votes counted, M. Hollande won a narrow victory with 50.8% to Sarkozy’s 49.2%, as per the French Interior minister. According to exit polls, the vote is closer to 52% for M. Hollande.
Crowds roared at the center-left candidate’s campaign headquarters as the exit poll results came out Sunday evening.
“Many people have been waiting for this moment for many long years. Others, younger, have never known such a time. … I am proud to be capable to bring about hope again,” Hollande said in his victory speech.
Celebratory car horns blared along the Champs-Elysees in Paris.
“It’s a great night, full of joy for so many young people all across the country,” said Thierry Marchal-Beck, president of the Movement of Young Socialists.
Hollande will be the nation’s first left-wing president since Francois Mitterrand left office in 1995.
His victory and the elections in Greece and Germany are sending economic shock waves through Europe:
François Hollande’s election threw down the gauntlet to Angela Merkel, the German Chancellor, who has railroaded the eurozone into agreeing a new “fiskalpakt” treaty enshrining Germany’s austerity doctrine.
The economic doctrine of austerity, to cut the burden of state spending to free up the economy, has ruled supreme with the support all of Europe’s leaders, the European Union and financial markets.
But political leaders were on Sunday night conceding the consensus had been shattered beyond repair.
With Europe’s economies plunging further into recession and as unemployment in the eurozone breaks record levels, voters demands for a new approach had finally become to great to ignore.
The popular backlash to EU imposed austerity to the centrist New Democracy and Socialist parties in Greece threatens the existence of the euro itself.
While in Germany, Chancellor Merkel was sent a message from German voters:
Exit polls by German broadcaster ARD put Mrs Merkel’s Christian Democrats at 30.5 per cent, just one per cent more than the left-wing Social Democrats.
But the Free Democrats, Mrs Merkel’s ailing coalition ally, scored a lowly 8.5 per cent, meaning that the coalition that has ruled the rural state on the Danish border since 2009 faces the prospect of being unseated.
Experts predict that the Social Democrats will try to cobble a coalition together with the Greens, the third biggest party, in order to take control of the state. [..]
While the Free Democrats appears to have avoided the humiliation of being wiped out all together in Schleswig-Holstein the continuing unpopularity of the party could force Mrs Merkel to search for a new coalition partner come next year’s federal elections.
I don’t think this is a surprise to most Europeans. It should be a clear message to the leaders of countries who are considering only austerity measures as a solution to debt.