As we all remember, the recent presidential elections in France have ended with the election of a new president, Francois Hollande, who replaced the odious Nicolas Sarcozy. The new representative of France’s power at the international arena started with the correction of his predecessor’s decisions, which appear to be wrong for him. Leaving the cases of international policy away for a while, Mr. Hollande concentrated on the internal policy, trying to fix things inside the country.
Speaking after the 2012 G8 Summit, President Obama cited an emerging consensus that the Eurozone’s 17 member countries must focus on growth and jobs instead of austerity measures. President Obama said that there was a growing agreement that Europe should invest in infrastructure that will create jobs and undertake other economic programs while controlling its deficits and debts and everyone knows that a stable and vibrant European economy is in their best interest.
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Election results in Greece and France drove away the investors’ fear about the government austerity plans. Francois Hollande won a victory over Nicolas Sarkozy during the French elections, promising to bring prosperity and financial solutions through the growth instead of enforcing fiscal austerity. In Greece, the pro-bailout Pasok Party got poor results while its counterpart, Syriza, gained public trust by promising to oppose austerity in the government.
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