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Monday, May 7, 2012

Austerity is voted out in France

Observation:  We seldom devote space to the Euro Zone at this site; there are plenty of global economic pundits covering that topic.  But it is worth noting that Francoix Hollande defeated Nicolas Sarkozy in the French presidential election.  Sarkozy generally favored cuts in public spending to solve the economic woes of the country and region; Hollande is a socialist who believes spending will stimulate the economy and people with higher incomes should fund that spending.  Click here to see the Wall Street Journal’s full story on the matter.

Implications:   I’m just watching this story wondering how many of the 17 countries in the European Union might follow suit… and how these shifts in policy might affect companies who export to Europe, or import products and services from Europe.

Also, I’m wondering whether the mood of the U.S. can be expected to shift in similar ways between now and November.  What do you think?

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

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