Thursday, May 10, 2012

Politician does U-turn on election promises

France's Hollande may roll back spending promises

Well, it didn't take long for Hollande to listen to the 'markets' after the 'populist' spending programme he outlined during his campaign. "Hollande may use a summer audit of state finances to water down his generous campaign promises rather than risk a backlash from financial markets against stubbornly high deficits and rising debt".

Posted by icarus @ 07:16 PM (1470 views)
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4 thoughts on “Politician does U-turn on election promises

  • “rather than risk a backlash from financial markets against stubbornly high deficits and rising debt”.
    Maybe he had advance warning the Chinese were fed up with European sovereign debt today. Link:

    http://www.telegraph.co.uk/finance/financialcrisis/9258317/Chinese-sovereign-wealth-fund-stops-buying-European-government-debt.html

    Or..maybe he was listening to Roubini, yesterday, who said that even more debt and borrowing would not stimulate growth and Cyprus and Portugal may be out of the EU by year end.

    Or…was it the Spanish banking crisis which involves so many crumbling French and Spanish banks?

    Discretion is the better part of Valour ?

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  • general congreve says:

    Straight out the Obama play book.

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  • Hahahahah U-turn within days of being elected. Oh this is just beautiful.

    What amazes me is how the voting public, worldwide, continues to get taken in by politicians. I mean the naivety is just breathtaking.

    You can even predict what incoming leaders will renege on, but still people won’t listen.

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  • Sneaker ,

    What chance of getting elected would a politician have if they told the truth and proposed a series of unpopular policies because they were the right thing to do ?

    Our political class should have thought of the consequences before they intentionally dumbed down the education system and debate and encouraged two generations of reverse darwinism . Now they’ve ended up with a complete liability of a population which is dependent on Govt to fulfil their every need and want .

    Promising to recruit 60,000 new teachers accross the course of his term in office would seem like a good move which would not cost the earth – so long as it doesn’t involve lowering the standards .

    Hollande did not give details of how he would get a 75% income tax rate to work so anyone who voted for him for this has only themselves to blame . I’d venture that most who voted for him will be relieved when he tones that policy down a bit .

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