In good news for both France and the EU, right winger Nicolas Sarkozy has won the French presidential election. Why is this good news? Because the alternative, Sergolene Royal, is a Socialist – the last thing France needs. France, like Germany, suffers from chronic economic stagnation and massive unemployment. In my mind, in both countries this can be attributed to massive welfare and over regulated labour markets. Judging from Sarkozy’s statements it would appear that he intends to address at least some of the problems at hand. While I have to confess I don’t follow French politics, one thing is very clear to me – France needs a Socialist presidents like a kick in the balls. At best a Socialist leader will maintain the status quo. At worst they will further entrench the antiquated system currently in place. On the other hand, there are parallels to be drawn with Germany, which is in a very similar socio-economic situation. In the German case, the conservative leader Angela Merkel, who promised sweeping reforms, thus far seems to have failed to make any significant changes, with only marginal economic improvements, which may or may not be the result of her policy. I hope Sarkozy doesn’t follow this path.
P.S: Let’s also hope he strengthens the military