Sarkozy Puts France on Speed

President-elect has a packed first 40 days

(NEWSER) - Following last night’s victory over Nicolas Sarkozy , Francois Hollande will have to jump right in to his new role—he will be sworn in as France’s president next Tuesday, the BBC notes. What does his election mean?

• Hollande has vowed to renegotiate the eurozone budget treaty Sarkozy championed along with German Chancellor Angela Merkel, but the German government today is trying to cut that off at the pass, calling it “not possible.”
• Though Hollande's election has fueled hope among many French hungry for jobs, economic growth, and the end of austerity, he faces the same debt problems Sarkozy did. Der Spiegel notes that Hollande knows just how tough is the job ahead of him: Rather than appearing celebratory last night, the unsmiling victor “seemed tired, weak, and overwhelmed,” the paper reports.

Far-right leader doesn't get behind Francois Hollande or Nicolas Sarkozy

(AP) - Far-right leader Marine Le Pen is refusing to endorse either candidate in France's presidential runoff and says she will cast a blank protest ballot. Le Pen, who came in a strong third place in the first round of voting April 22, told her supporters at a big rally in Paris to "vote according to your conscience" and said, "I will cast a blank ballot," explaining that she could not endorse Nicolas Sarkozy or Socialist challenger Francois Hollande. Polls favor Hollande, but Sarkozy hopes to win over Le Pen's voters for Sunday's runoff. More»

President, chief rival will face each other in May 6 runoff election for presidency

(AP) - French President Nicolas Sarkozy and chief rival Francois Hollande are headed for a showdown on May 6, after finishing as the top two candidates in today's first round of voting in France's presidential elections. Though the French government has yet to finalize the tally, the Wall Street Journal and other outlets are reporting that Sarkozy captured between 25% and 26% of the vote, while Hollande took in 27% to 29%. Since no one won more than half, both candidates head to the runoff, where previous polling had suggested that the Socialist Hollande could deny Sarkozy his bid for re-election. More»

At odds with Germany over ECB, deflation, budget enforcement

(NEWSER) - French President Nicolas Sarkozy yesterday called for changing the eurozone treaty to make a tighter, stronger union, and demanded more budget discipline, increased help for foundering economies, and replacing countries' veto rights with qualified majorities, reports Reuters . He also called for the European Central Bank to be more interventionist and fight possible deflation. "Let us not hide it, Europe may be swept away by the crisis if it doesn't get a grip, if it doesn't change," he warned. "We don't have the right to let such a disaster happen." More»

Sarkozy's hopes dashed amid other leaders' opposition

(NEWSER) - Leaders of Europe’s four biggest economies did not settle on a unified plan for tackling the financial crisis, the Washington Post reports. Instead, each country will deal with banking problems as they crop up. While France’s Nicolas Sarkozy hoped for a Europe-wide plan, British and German leaders were opposed to a single safety-net fund. More»