Thursday, April 12, 2007

He talks the talk, but he won't walk the walk

The Economist calls Sarkozy France's best hope.

This election matters. France is the euro zone's second-biggest member and home to ten of Europe's 50 biggest companies. But it is deeply troubled. It has the slowest-growing large economy in Europe, a state that soaks up half of GDP, the fastest-rising public debt in western Europe over the past ten years and, above all, entrenched high unemployment. Over the past 25 years French GDP per person has declined from seventh-highest in the world to 17th. The smouldering mood of the suburbs (banlieues), home to many jobless youths from ethnic minorities, blazed into riots in 2005 and lay behind new trouble that flared recently at a Paris railway station. The disenchantment of voters is reflected not only in opinion polls but also in their rejection of the European Union constitution in 2005. Tellingly, they have not re-elected an incumbent government for a quarter-century.

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