… But the election wasn’t really about the two men—or at least it wasn’t about Hollande, the bland and modest lifelong politician who possesses little of Sarkozy’s flair and mercurial arrogance.
What is really at stake in France, and across Europe, are competing visions about how the continent might recover from a crushing financial crisis.
In December, 25 of 27 European Union states agreed to a “fiscal compact” to coordinate financial policies and enforce budgetary discipline. But these austerity measures are deeply unpopular in parts of Europe with soaring unemployment and sizzling social unrest. Greece is regularly rattled by strikes and protests. Millions of Spaniards have flooded public squares to protest public spending cuts and record levels of joblessness. In France, where unemployment hovers around 10 per cent, even modest pension reforms provoked massive demonstrations. …
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