Socialist candidate Hollande defeats Sarkozy in French presidential race

[kpete]

Source: Daily Kos

Socialist candidate Hollande defeats Sarkozy in French presidential race

.............................

According to jssnews.com, reliable sources close to the Elysée palace and of the Ministère de l’Intérieur, who is organising the elections, Hollande comfortably won by at least 52%.



17h45 : Les sources de JSSNews, qualifiées d’excellentes (tant à l’Elysée qu’au Ministère de l’Intérieur), sont formelles : François Hollande remporterait 52% des suffrages face à Nicolas Sarkozy. Il devient ainsi le 10ème Président français de la Vème République.

Notez cependant qu’il existe une marge d’erreur de 1.5%… Ce qui ne serait pas suffisant pour permettre à Nicolas Sarkozy de garder son poste.



Other foreign media are also confirming, with all early estimates putting Hollande between 52% and 55%.

Read more: http://www.dailykos.com/story/2012/05/06/1089222/-Socialist-candidate-Hollande-defeats-Sarkozy-in-French-presidential-race

[hifiguy]

1. Huzzah!! I hope he governs as a Socialist. nt

[MH1]

4. I hope he governs as a COMPETENT socialist. nt

[KamaAina]

9. French Socialists are pretty much like our Democrats used to be.

Still, a major upgrade from Sarko!

[FarLeftFist]

13. Yeah, they're still very much capitalists, just with strong oversight.

[Justice wanted]

2. OH, this will be intersting to see how quickly some of Sarkozy's "Mistakes" like raising retirement

age will be overturned.


America's GOPs is probably flipping out.

[Starry Messenger]

3. k&r

[bluestateguy]

5. I'm assuming this will put an end to the austerity bullshit, at least in France

Don't throw cold water on me today, OK.

[elleng]

8. Wouldn't think of it,

and might happen in France, but will take more than just France. Could provide a good example for the rest of the world, but also will likely take a while to show effects.

[elleng]

6. Tres interessant!!!

[iamthebandfanman]

7. yay!

but i have to say, im going to be cautious with my optimism
the right always finds a way to fuck things up . always. lol

[dkf]

10. This could be bad for Obama if it triggers a fall in the stock market.

Europe was always his greatest potential problem.

[Lucky Luciano]

12. Sovereign spreads to Germany will likely take a hit, though not too much since this was expected.

[dkf]

14. They are waiting to see what he says.

Praveen said there is still room for a market rebound if Hollande, should he win the presidency, comes out with a more conciliatory tone that would ease investors' fears about France's commitment to fiscal stability.

Investors are waiting to see if Hollande, who holds an advantage in polls over Sarkozy, will be able to square France's need for fiscal reforms with his plans to promote growth.

http://mobile.reuters.com/article/idUSBRE8431PU20120504?irpc=932

[suffragette]

22. Yet austerity has not led to "fiscal stability"

[dkf]

28. Potential loosening of the austerity measures has led to significant instability in bond yields.

Those bond yields are the gauge used to determine potential insolvency.

If these governments think spending will grow their economy out of this mess they will have to suffer through the higher yields and prove it is better to doubters aka investors.

Or maybe they are depending on the ECB to pull something out of their hats.

[suffragette]

33. Actual austerity measures have throttled the countries and citizens on which they have been imposed

You speak of potential suffering, but there has already been actual suffering because of this failed policy - the suffering of the young who can't find jobs, the suffering of those whose pensions are being robbed, the suffering of those crushed as social benefits are destroyed.



edited for typo

[dkf]

36. Well if they think they will see better results with no access to borrowing then more power to them.

I wish them good luck.

[kestrel91316]

38. You forgot the sarcasm emoticon. We know how you feel about liberals.

[kristopher]

41. "Krugman Wishes He Were Wrong on EU"

Krugman Wishes He Were Wrong on EU
By Simon Kennedy on May 03, 2012

...“I wish I’d been wrong for the sake of the world,” Krugman said in an interview with Bloomberg Television’s Carol Massar. “You can see that there has been a definite shift in opinion.”

The euro area’s push to revive confidence in its economy and financial markets by attacking budget deficits will be challenged at the ballot boxes of France and Greece on May 6 as the region’s economy skids toward its second recession in three years and unemployment nears 11 percent.

Leading demands for a revised strategy, French Socialist Francois Hollande, a reader of Krugman, tops President Nicolas Sarkozy in the polls with the warning that putting debt-cutting over expansion is “bringing desperation to people.” Elsewhere, Greeks are turning to anti-austerity parties, recession-wracked Spain and Italy are relaxing deficit targets, the Dutch government is splintering and European Central Bank President Mario Draghi is calling for a “growth compact.”

...
In a camp that boasts fellow Nobel winner Joseph Stiglitz and former U.S. Treasury Secretary Lawrence Summers, Krugman’s voice has been loudest in warning that deploying austerity in a slump is self-defeating as it deepens the economic pain and can generate even higher debt. For pulpits, the 59-year-old Princeton University professor has a regular New York Times op- ed and blog. A book, “End This Depression Now!” was published this week and is already among the bestsellers on Amazon.com Inc.’s U.S. website.


‘Not a Whim’
“Francois Hollande has read Krugman,” Michel Sapin, one of Hollande’s economic advisers, said in an interview. “His writings show that Hollande’s proposals are not a whim and that this idea that growth is key is spreading.”...

http://www.businessweek.com/news/2012-05-02/krugman-wishes-he-was-wrong-amid-eu-austerity-backlash

[dkf]

42. Well I hope I am wrong that this throws things into turmoil yet again.

Ugh. Growth based on debt isn't new as we've been on this course for ages. We are just reaching the end of its capacity.

[kristopher]

43. "end of capacity"? - I don't think so.

I firmly believe global politics are right now being driven by energy and resistance to moving away from fossil fuels and the centralized energy system they have built around them. It isn't a coincidence that the deficit hawks are all conservatives in a time when policies they hate - energy specifically - are poised to launch unalterably down a new path. Nor is it a coincidence that the message they are preaching is a policy that has been proven wrong as thoroughly as any economic theory can possibly be proven.

Now if we can get rid of Merkel and Cameron we will be able to get something done.

[Chan790]

68. Hardly.

This is not the late-1970's stagflation in any form...there is substantial room for Keynesian solutions and righting the ship through regulative measures. What there no longer is, is any great bloc of empowered-resistance left to that solution in Europe. Austerity is dead, stimulus will be returning.

What I suspect is troubling you though is the fear that this is the death-knell for Democratic austerity-campers like yourself in the US. Dead is the Clintonian fiscal-centrism and its' adherence to Chicago-school economic theories? Let's hope so.

Economic-liberalism has returned (to Europe)...hooray!!

Maybe we're next?

[girl gone mad]

58. Interesting take on reality.

Bond yield increase in the wake of austerity, yet you blame the "potential loosening of the austerity".

As usual, your grasp one economics is not so good.

[dkf]

60. Austerity is one part of the calculation re: solvency.

I'm sure you know that.

[Amonester]

59. France's need for fiscal reform, as well as the world's, includes forcing the rich to contribute...

more, in terms of income taxes, capital-gain taxes, financial-transaction taxes, and put an end to all tax havens.

After all this will be implemented worldwide, they will still earn more than enough to live a very, very good life....

And the rest of the world will have a better one.

F*ck the GD supply-side Reaganomics!

[CreekDog]

65. Oh please, stop panicking that a Socialist victory in France will make upper income taxes will rise

here.

[Shining Jack]

67. WTF?

[Hissyspit]

69. French, German Stocks Rise After Hollande Victory

http://www.thejakartaglobe.com/afp/french-german-stocks-rise-after-hollande-victory/516560

[onehandle]

11. I hope France gets back to normal. Sarkozy was Rightish, but Left of every American President, ever.

He was never horrible, but wrong for the definition of France.

Go left and prosper.

Vive la France!


We want to retire there.

[Rosa Luxemburg]

50. Sarkozy is a neocon

[joshcryer]

56. He moved hard to the right in that election, pulling the racist immigration shit.

[Odin2005]

15. YAY!

[Richard D]

16. Talking to a friend in France

The streets of Paris are flooded with celebrating people.

[harmonicon]

18. What a contrast to last time.

I was in Strasbourg five years ago on the night of the last election. My girlfriend and I were eating dinner outside and heard loads of noise from a few blocks away. After dinner, we went to examine what it was, and there were thousands of people marching in protest to the vote, so we followed along, walking miles through the streets. People at the head of the crowd would announce a destination, and riot police would try to beat them there and block of the intersection, so plans were constantly changing. This was in a city which is quite far right-wing for the country, but it still happened - definitely no open celebration of the Sarkozy victory.

[Mass]

17. 52-48 - Yeah!!!

On a gagne.

Now, same thing for Obama...

[flpoljunkie]

19. Another source confirms the exit polling...

BREAKING NEWS

Socialist Hollande beats Sarkozy to win French presidency

Socialist Party challenger François Hollande has beaten incumbent Nicolas Sarkozy in a tight run-off election to win the French presidency with 51.9% of the vote to Sarkozy’s 48.1%, Ipsos exit polls show.

http://www.france24.com/en/

[Mass]

23. It's not exit polling any more - These are official estimations that have never been wrong.

All the French media called the election for Hollande.

[hedgehog]

20. Woo-hoo!

[JitterbugPerfume]

21. yay!

k&R

[suffragette]

24. K&R

[muriel_volestrangler]

25. Sarkozy has conceded

Mr Sarkozy has admitted defeat, saying: "Francois Hollande is the president of France and he must be respected."
...
Mr Sarkozy, who has been in office since 2007, urged his UMP party to remain united, but warned he would not lead it into June's parliamentary elections, according to AFP news agency.

It quotes him as telling party leaders, as he read a draft of his concession speech: "Stay together. We must win the battle of the legislatives. I will not lead that campaign."

http://www.bbc.co.uk/news/world-europe-17975660

[ellisonz]

27. Long Live the Republic!

Juan Carlos Velaure, a 57-year-old lawyer, said he voted for Mr. Hollande because he was fed up with Mr. Sarkozy’s governing style and his conception of the presidency. “He ruled over everyone,” Mr. Velaure said.

He remained unsure, however, whether Mr. Hollande would be up to the task of guiding France and Europe through the economic crisis.

“I don’t know if Hollande will help, but he is changing minds in Europe” about the need to stimulate growth along with achieving fiscal discipline, he said. “The future of France is uncertain. I couldn’t say if feel optimistic or pessimistic at this moment. We will have to see what the future holds.”

http://www.nytimes.com/2012/05/07/world/europe/hollande-and-sarkozy-in-crucial-runoff-in-france.html?_r=1&hp

[hifiguy]

40. Vive la France!!

[joshcryer]

57. I hope this is a bellweather for the 2012 US elections.

We need the House and Senate to be filled with good progressives.

[SunSeeker]

26. We should have voting on weekends like France, so workers could get to the polls. nt

[caveat_imperator]

52. Definitely.

Or at the least, give the people the day off from work in order to vote.

[joshcryer]

55. We need election day to be a national holiday.

Where everyone gets the day off, by law. (People can still work but they'd be given the incentive to go vote.)

[jpak]

29. I'm eating French Fries tonight

yup

[Dawson Leery]

30. The exit polls are saying: 52%-54.5%

[Kingofalldems]

31. Internet moles not liking this one

Would have dropped everything to post here if Sarkozy won.

Hah!

[Berlin Expat]

32. Good news! All I can say is

Vive la France!!! Vive la République!!!

[rayofreason]

34. I wish him well and success. n/t

[Lydia Leftcoast]

35. Vive le Baquelache!

[kestrel91316]

37. Good. Sarkozy's a RW fascist, IIRC.

[Faygo Kid]

39. Glad to hear it.

Europe is coming to its senses. Will we? Or is it Mitt and the Kochs?

[Zorra]

44. Woo-hoo! Big party rockin' the Bastille, baby!

........

:

[ocpagu]

45. Congratulations to the French People.

May Holland honor you all.

Solidarity!

[magic59]

46. A leader for the people

I just hope he tells the banksters to take a hike. We need a strong Socialist government in this country but will not happen until we boot corporate greed out of Washington and state governments.

[hay rick]

47. They obviously don't have modern voting machines. nt

[harun]

48. Congratulations France!!!

[Rosa Luxemburg]

49. Excellent news!

[unkachuck]

51. excellent news!

....may this be a large step in the Europes' (the planets) response to wall-street, the melt-down banksters and the corporate organized crime thugs that rule our world....

....may the message be sent far and wide, 'Pay off your own gambling debts, pay your fair share of taxes and pack your sponsored austerity measures up your ass.'

[Peace Patriot]

53. Hear, Hear! What unkachuck said! nt

[harun]

64. Ditto

[joshcryer]

54. As expected! Hopefully now we can criticize DSK without being slandered...

...as pawns for the elite or some shit.

[BanTheGOP]

61. Then need to IMMEDIATELY freeze all accounts over a million euros

They need to freeze all accounts until they get the 75% tax rate in place. By the way, the 75% also will apply to accrued wealth, not just the investment earnings, so the tax rate is actually going to be more effectively enforced. This is great news!

[muriel_volestrangler]

62. No, I think it's 75% of income, not of accrued wealth

"Above 1m euros [£847,000; $1.3m], the tax rate should be 75% because it's not possible to have that level of income," he said.

http://www.bbc.co.uk/news/world-europe-17189739

France does already have a tax on accrued wealth, but it's far smaller than that:

Table: French Wealth Tax Bands 2011
Fraction Taxable Rate of Tax
€1,300,000 - €2,570,000 0.75%
€2,570,000 - €4,040,000 1.00%
€4,040,000 - €7,710,000 1.30%
€7,710,000 - €16,790,000 1.65%
Over €16,790,000 1.80%

http://www.french-property.com/guides/france/finance-taxation/taxation/wealth-tax/rate/

[BanTheGOP]

70. Not difficult to overcome

Not really that difficult to adjust. Wealth is more important to tax than income in any case. This way, you can also relfect the will of the people on a more immediate scale than through the drip, drip, drip methodology of income taxation.

[qb]

63. Bravo les français!

[Shining Jack]

66. Yes!

And good riddance to that right wing POS.

[and-justice-for-all]

71. nice!! nt