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Leading French Presidential Candidate Hollande Says Will Renegotiate Brussels Decision If Elected

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Just because credit agency downgrade risk uncertainty is not enough, FAZ now advises there is electoral risk to add to the mix. Because if Sarkozy were to lose the presidential election, his competitor, the socialist-backed Francois Hollande has said that he would not accept the decisions of the Euro-summit, and will try to renegotiate the outcome, in effect unwinding any "progress" made so far in stabilizing the European currency. "Should he win the presidential elections, France would not ratify the treaty. "If I am elected President of the Republic, I will negotiating a new agreement," Hollande announced on the radio station RTL." Why is this concerning? Because as a recent poll indicates Hollande has a commanding lead over Sarkozy as of mid-November. "The proportion of French voters who have confidence in Sarkozy to deal effectively with the country’s problems expanded to 40 percent, according to the poll published in the French newspaper today. While Socialist Francois Hollande topped popularity ratings in the poll, he lost 5 points in the period. About 51 percent of voters said they had a “positive image” of Hollande." In other words, it is likely to quite likely that Sarko will not be reelected. Which also means that suddenly all bets are off for Europe.

More from FAZ:

Hollande refused to recognize the need for a constitutionally anchored debt brake, the so-called golden rule. He would undertake if elected "from the French and from our European partners" to fiscal discipline. "We can have as many golden rules in as many countries as we want to decide if we do not create growth, our goals are not met," said Hollande.

 

President Nicolas Sarkozy, meanwhile, tried to convince his compatriots that had been reached with the Brussels decisions an "undeniable democratic progress." In an interview with the newspaper "Le Monde" Sarkozy campaigned for the new "authentic" economic government ("gouvernance économique") of the democratically elected Heads of State and Government of the euro member states. "It is a different Europe, in the making," said Sarkozy.

 

It is a Europe of the euro zone, where the convergence of the economies, the fiscal rules and fiscal policies are the guiding principles. Give the Franco-German relationship, there is no alternative, the president said. "Shall we stay alone? Who can believe, an isolated France could defend his ideas better? Or you want me to propose another alliance? But which one? "Said Sarkozy. Chancellor Angela Merkel had acted with "intelligence and pragmatism", praised the president.

By then, however, it will hardly matter, since the French AAA rating will be a long-lost distant memory...

 

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Mon, 12/12/2011 - 12:59 | 1970468 LawsofPhysics
LawsofPhysics's picture

Of course you realize this means war.  I wonder what the 3:30 rumor will be?  There should be an ETF to place bets on this.  Another shill for growth in a world where energy production has been flat for five years, good luck with that.

Mon, 12/12/2011 - 13:02 | 1970498 Ahmeexnal
Ahmeexnal's picture

Many young french have already left the country for greener pastures in LatAm, India, Africa.

Mon, 12/12/2011 - 13:06 | 1970524 DoChenRollingBearing
DoChenRollingBearing's picture

@ Ahmeexnal

To the USA too.  I see young French guys, enterpreneurial types in the suburb where I live.  I do not recall having seen any here in Peru (living here vs. tourists), but I would suspect that you are right re LatAm countries like Brazil and perhaps Argentina.

Mon, 12/12/2011 - 13:31 | 1970654 Ahmeexnal
Ahmeexnal's picture

Hey DCRB, what's the situation on Peru? Things are heating up there I believe.

Read news that the entire cabinet quit over violence on GOLD mining projects.

Now there's winds of war with Chile:

http://www.rpp.com.pe/2011-12-12-oscar-valdes-voces-disonantes-dicen-que...

Mon, 12/12/2011 - 13:52 | 1970763 Popo
Popo's picture

This whole article beautifully confirms how unstable the situation is.  Ok -- if it's not the electoral risk between Sarkozy and Hollande -- it will be someone else.  The whole thing is a house of cards.   As long as there is sovereignty there is absolute risk.  Period.

Mon, 12/12/2011 - 14:18 | 1970887 DoChenRollingBearing
DoChenRollingBearing's picture

@ Ahmeexnal

Peru and Chile will not go to war.  Mostly just bluster on Peru´s part because they lost the last war (+/- 1870).  Sort of like our South, bitchin´about the Yankees.  The PEOPLE and TV stations are not alarmed at all.  No extra cops or soldiers anywhere.  Nobody around here talking about any stupid wars.

Chile certainly would not start any war.  And Peru better not, because the Chileans would kick Peru´s butt so hard that their digestion would go into reverse, if you catch my drift...

Sometimes a blowhard Peruvian general will say something dumb about sendig Chilean soldiers back in body bags..., but that is the guy they filmed dancing drunk while in uniform, oops...

Mon, 12/12/2011 - 13:06 | 1970526 GeneMarchbanks
GeneMarchbanks's picture

India has no pasture from what I'm told. The last thing any of those need is young Europeans.

At least they won't be Europeons.

Mon, 12/12/2011 - 13:21 | 1970506 slaughterer
slaughterer's picture

Must ... mobilize ... Eurozone ... rumor ... Must ... think ... of... something ...bullish... Must ... take out ... short .. stops ... Must ... get  ... Christmas ... bonus.

Mon, 12/12/2011 - 13:09 | 1970558 whatsinaname
whatsinaname's picture

Is FAZ saying to go short today ?

Mon, 12/12/2011 - 12:56 | 1970471 agent default
agent default's picture

Aaaand the EU is toast.

Mon, 12/12/2011 - 12:58 | 1970481 Vincent Vega
Vincent Vega's picture

Oops!

Mon, 12/12/2011 - 12:59 | 1970487 dickbar
dickbar's picture

you really have no grasp of frog politics; Hollande is a patsy, put forward specifically because he is un-electable; the guy is a posh chump heading the socialist party. Aubrey might have had a chance. Added to this Villepin enters the fray for the premier tour so he takes votes from the 'can't vote for sarko again' crew. voila... Sarko gets in again... no way on this planet Hollande will ever be president

Mon, 12/12/2011 - 13:07 | 1970518 hedgeless_horseman
hedgeless_horseman's picture

 

 

Un plus.  Merci, beaucoup pour l'information. Do you know how to fix my Magimix?

Mon, 12/12/2011 - 14:27 | 1970930 alvetto
alvetto's picture

word

Mon, 12/12/2011 - 13:01 | 1970495 Mr_Wonderful
Mr_Wonderful's picture

Is Hollande a joo too ?

Mon, 12/12/2011 - 13:02 | 1970501 Madcow
Madcow's picture

"Democracy" is incompatible with a global police state run by bankers.

Mon, 12/12/2011 - 13:03 | 1970507 DoChenRollingBearing
DoChenRollingBearing's picture

Here are the countries in Europe where I would now invest new money:

 

 

 

 

 

 

 

.

Mon, 12/12/2011 - 13:04 | 1970511 fuu
fuu's picture

Nice.

Mon, 12/12/2011 - 13:33 | 1970663 Black Forest
Black Forest's picture

Nice is a town in France.

Mon, 12/12/2011 - 13:41 | 1970699 Ahmeexnal
Ahmeexnal's picture

Nice is an algerian town in France.

There, fixed it for you.

Mon, 12/12/2011 - 14:19 | 1970893 DoChenRollingBearing
DoChenRollingBearing's picture

Nice!  LOL

Mon, 12/12/2011 - 16:03 | 1971347 knukles
knukles's picture

Yeah, where them fat old smelly guys thats their 15 y/o nices for holiday.

Mon, 12/12/2011 - 13:06 | 1970509 hollowbody
hollowbody's picture

Someone better tell this monkey, and in fact Sarkozy, Merkel and all the other monkeys at the circus in Brussels over the last few days for that matter, that the EU has already had a 'debt brake' for years. Unfortunately no-one's been taking any notice, or calling any of the 'recalcitrant' countries to account....

http://ec.europa.eu/economy_finance/economic_governance/sgp/deficit/inde...

Mon, 12/12/2011 - 13:05 | 1970516 falak pema
falak pema's picture

never believe a socialist who is not in office! 

Mon, 12/12/2011 - 13:07 | 1970523 Quintus
Quintus's picture

It's just as well then that Sarkozy will have signed everything up in the March 2012 summit before the April elections, leaving his successor with a fait-accompli.  Think that next summit date was chosen by accident?

Mon, 12/12/2011 - 13:06 | 1970525 FranSix
FranSix's picture

Goldman Sachs just set up an honorary alumnus rewards card for Hollande.

Mon, 12/12/2011 - 13:17 | 1970588 YesWeKahn
YesWeKahn's picture

Hollande is the ex of the last female presidential condidate. It looks like there is only a handful of presidential hopefuls, that's not very hopeful

Mon, 12/12/2011 - 13:19 | 1970602 monopoly
monopoly's picture

This is just mind boggling. Hard to keep up with all the "good news". But, when it all comes together I have a good idea where gold, silver and miners will be.

I do not remember anyone saying this was easy.

Mon, 12/12/2011 - 13:20 | 1970604 Eally Ucked
Eally Ucked's picture

Vote for a change, I will renegotiate everything but I will fail. Meanwhile I may get some Nobel Prize for something, not decided yet for what, maybe it will be my iniciative to peacefully integrate some aliens to EUZ. Not decided yet, really not! 

Mon, 12/12/2011 - 13:24 | 1970620 Odin
Odin's picture

Time for the bears to strike back baby... Act II Bitchez...

Mon, 12/12/2011 - 13:32 | 1970657 kralizec
kralizec's picture

Yup, just what Europe really needs, another socialist.  Ride the decline!

Mon, 12/12/2011 - 13:33 | 1970660 WonderDawg
WonderDawg's picture

Which also means that suddenly all bets are off for Europe.

Suddenly? All bets have been off for Europe for a while now. Unless, of course, you're betting Europe implodes. That bet is still on.

Mon, 12/12/2011 - 13:39 | 1970691 redcorona
redcorona's picture

Le Pen 2012

Mon, 12/12/2011 - 13:50 | 1970755 Ima anal sphincter
Ima anal sphincter's picture

Without digging in to details, "sellout puppet" seems to fit. The bankers are in COMPLETE control. The people will remain slaves until the moment of realization that there is only ONE way out of this. That is the "removal" of the bankers and all their minions. They will not give up their power freely. This really boils down to whether the people are ready to deal with the hardship and get this thing done.

Mon, 12/12/2011 - 14:00 | 1970805 junkyardjack
junkyardjack's picture

I'm just wondering who will fire the first missile? 

Mon, 12/12/2011 - 14:05 | 1970827 Instant Wealth
Instant Wealth's picture

When Francois Hollande becomes President of France, I expect nothing less than Frans Frankrijk becoming the next Prime Minister of the Netherlands.

Mon, 12/12/2011 - 14:16 | 1970875 slewie the pi-rat
slewie the pi-rat's picture

i no longer see this about any "isms" or party or candidate or treaty

seems to me france is getting end played

nothing has changed;  the less solvent piiigs have resolved nothing, and their cans are almost totally demolished, but still kicked down the road, i guess;  the more solvent (GER) won't agree to pick up the tab;  france is totally invested in a game where the clock is running out, and it is based on paper, sovereigns, and "TBTFs"

the irresistible force + the immovable object + thou = risk-0ff, BiCheZ!

Mon, 12/12/2011 - 15:31 | 1971192 EZT
EZT's picture

when is the election..?

Mon, 12/12/2011 - 15:36 | 1971220 AldoHux_IV
AldoHux_IV's picture

More politicians lying to get the votes-- it's how these banker sponsored politicians get in: create a crisis and then come up with a populist rhetoric only to have it reneged once the 'reality' of the crisis changes what was promised due to national and mutually assured security and sanctity of failed system.

Hope and change anyone?

Mon, 12/12/2011 - 15:57 | 1971324 Scalaris
Scalaris's picture

Enter hotel maid/harrasment victim + MSM trial in 3.. 2.. 1..

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