No Honeymoon from EU Debt for Francois Hollande

France's president-elect Francois Hollande faced an immediate economic challenge on Monday as turmoil in Greece and doubts about his own plans threatened to plunge the euro zone back into a debt crisis.

Published

about 1 year ago

Categories

World, Europe, Finance, Economic Policy, Breaking International News

Topics

Finance, Economic Policy, Europe

People

Francois Hollande

Places

Greece, France, Paris, European Union

Tags

eu debt crisis, debt

Transcript

SCRIPT: <br></br><br></br>The partying went on all night. <br></br><br></br>France's first Socialist president for nearly 20 years … <br></br><br></br>…voted in on a wave of support for his centre-left platform of tax-and-spend policies. <br></br><br></br>SOUNDBITE 1, Francois Hollande, French president-elect (French, 12 sec): <br></br>"Beyond the heads of state and government, the people, thanks to us, now want an end to austerity." <br></br><br></br>But the hangover was not long coming -- with markets dropping on news that France, as well as Greece, had ousted leaders who had backed austerity solutions for Europe's economic troubles. <br></br><br></br>Newspapers across the continent weighed up the task ahead for Europe's second-largest economy… <br></br><br></br>…while financial analysts were skeptical of Hollande's claims to want to focus on growth. <br></br><br></br>SOUNDBITE 2, Francis Lun (man), Finance executive (English, 10 sec): <br></br>"In realitity, the figures don't add up. You cannot have growth and austerity at the same time. It's just a plain lie." <br></br><br></br>Hollande won't formally take power for a week or so -- but he already faces a crowded political calendar. <br></br><br></br>With challenges on every side, he'll be hoping to ride the current wave of goodwill for as long as he can. <br></br><br></br><br></br>SHOTLIST <br></br>SOURCE: AFPTV <br></br><br></br>-GVs celebrations in Place de la Bastilel, central Paris <br></br>-SOUNDBITE (SOURCE: SOCIALIST PARTY, NO RESALE for non-editorial purposes) <br></br>-GVs financial information boards <br></br>-GVs British newspapers headlines <br></br>-GVs French newspapers <br></br>-GVs Tokyo stock market <br></br>-SOUNDBITE <br></br>-GVs Hollande at campaign headquarters morning after victory