'Oui' to European Reform

When it comes to European economic reform, it doesn't seem to matter if it's driven by a Socialist like Germany's Gerhard Schröder, or by the conservative French President Jacques Chirac. In both cases, voters don't like it.

In French local elections Sunday, voters overwhelmingly repudiated the center-right coalition of Mr. Chirac, handing the Socialists their biggest victory in more than two decades. Considering the recent Socialist upset in Spain, one might erroneously lump this in with a leftist trend across Europe. But Spain turned on its own circumstance - handling terrorism. The French Socialists made this election a referendum against reform.

So far, Paris has made cuts to save state pensions and the social security system from bankruptcy. Ahead lie reforms to simplify hiring and firing, and open up state enterprises to private capital. The French president may reshuffle his Cabinet, or refine his reform plans, but like his friend in Berlin, he must stay the course.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK