May 7th, 2012
02:16 PM ET

Next French president already making waves in the U.S. economy

French president-elect François Hollande will take office next week, and immediately inherit a key role in resolving the economic crisis sweeping Europe. As The Wall Street Journal's Gabriele Parussini and William Boston write:

Mr. Hollande shaped his successful election bid squarely on the theme of changing the bloc's response to its deep sovereign-debt crisis. From the beginning of his campaign, the French Socialist said he would seek to renegotiate the fiscal treaty agreed by European leaders last year, in order to promote Europe's struggling economy

The change in leadership in Paris created uncertainty on Wall Street, with markets mixed by mid-afternoon Monday. CNNMoney's Hibah Yousuf writes investors were clearly worried about the future of austerity throughout Europe:

Hollande has advocated a shift away from austerity policies to deal with the continent's sovereign debt crisis and advocated for more economic stimulus. But the concern is whether or not such policies will derail previously-announced bailout deals, in which stronger economies like Germany provide assistance for the weaker economies facing default on their debt.

Investors expected a victory by Hollande, but jitters in the midst of a struggling economy could have potential impacts on the recovery. Tonight on Erin Burnett OutFront, Erin talks to the WSJ's Stephen Moore.

Filed under: Economy
soundoff (2 Responses)
  1. Lisa s N.J

    Erin, Your show in one of my favorites. You seem to be the most reasoned journalist I've heard in a long time. It's a shame CNN does not have more people like you on their network. No wonder their ratings have taken a dive. I would welcome more journalist's of your caliber at CNN.

    May 7, 2012 at 7:34 pm | Reply
  2. RickFromDetroit

    Hollande should charge the $1,000 dollar a night Hotel Rate to all of the millionaire campers who park their Yachts off of the Monte Carlo coast in the Mediterranean and use it to pay off the French debt.

    May 7, 2012 at 2:34 pm | Reply

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