Tuesday, May 8, 2012
Françoise Fressoz tries but fails to define Hollande's core political convictions. She thinks he espouses the "socialism of production" championed by DSK but without DSK's extensive network among CEOs. She notes that his presidency will rise or fall on his ability to strike an acceptable compromise with the social partners but also observes that he has given few indications of the nature of the compromise he will seek to achieve, especially with the unions. I look for him to be tested soon, perhaps on retirement reform. His limited rollback of the Sarkozy reforms is not enough to satisfy the demands of some unions. Will he hold firm? And if so, how will he defend his decision? On neoliberal grounds, or in terms of some sort of solidarity pact for growth, perhaps a German-style bargain in which wage hikes are linked to productivity growth?