Could a French Socialist throw an economic wrench into Obama’s re-election?

Of all the external factors that might affect the presidential race, I doubt many people saw President Obama being hurt by an honest-to-goodness European Socialist. But the intention of Francois Hollande, the French Socialist challenger to President Nicolas Sarkozy, to renegotiate the painstakingly struck European bailout could send shivers through economies over there and here.

From an interview Hollande gave German news site Der Spiegel:

I want to renegotiate it. Not all of it — some things seem reasonable to me. I’ve already committed myself to a balanced budget and better economic governance. But what bothers me most is that there is nothing about growth in the fiscal pact. And then there is some uncertainty with regard to the automatic sanctions — that is, what is expected of countries to reduce their deficits.

Hollande is right in a very narrow sense, that growth is key to balancing budgets in Europe (and here as well). But his proposal to attain that growth by issuing euro bonds as “a tool against speculation” and to pay for “big industrial projects” is an ominous one. First, because it’s clearly a ploy to get Germany to pay out more money in parts of Europe that are tightening their own budgetary belts — a ploy that isn’t going to pass muster with exasperated German taxpayers.

Second — and this is where the relevance to our election comes in — any renegotiation is going to restart the roller coaster that bond and stock markets rode for the better part of a year while European pols worked out the current terms. The French elections will be held April 22 (with a potential run-off on May 6) and Hollande is currently leading the polls by double digits with a clear majority.

If he wins and begins agitating to re-open the pact, Katrina bar the door.

And if that happens just as gas prices are approaching their peak, it could put Obama in a real economic bind. Not one to be wished for after a few years of rocky markets, but certainly one that could complicate our economic and political pictures.

(h/t: ViaMeadia)

– By Kyle Wingfield

190 comments Add your comment

Les Mauvaises Nouvelles n'importe où Sont Alwlays les Bonnes Nouvelles Pour Le républicain pour Blâmer Obama

March 12th, 2012
8:13 pm

Could a French Socialist throw an economic wrench into Obama’s re-election?

The Truth-O-Meter says:

FAUX

Ceci est un non-problème pour Obama.

Any Bad News Anywhere Is Alwlays Good News For The Gop To Blame Obama

March 12th, 2012
8:16 pm

@Tiberius – Your lightning rod of hate!

March 12th, 2012
8:07 pm
“Obviously he is doing something RIGHT.”

Technically, he’s campaigning well, but that is the only conclusion that can be drawn thus far. As to whether he’s doing anything “right”, that remains to be seen.
***********************************************************************************

What’s right is that HE HAS DOUBLE DIGIT SUPPORT.

Tiberius - Your lightning rod of hate!

March 12th, 2012
8:30 pm

“If your feelings are hurt, just say so.”

Nope, just offended at people who ASSume, Just saying.

And ASSume wrongly, as usual.

Dusty

March 12th, 2012
8:31 pm

Dear Mark V,

If you want to score points on blog comments, I think mine have scored more than yours which puts both of us at the bottom.

But back to the subject…Ah ha, Could a French Socialist throw an economic wrench into Obama’s re-election?

Why, yes! Any other wrench thrown into Obama’s re-election is not good. Just reminds us that we have already had too much socialism and don’t want any more. That Europe will start failing again with a scary future of socialsm blowing away any chance of less debt and economic advancement.

If you consider that economic advancement in this country has been stymied by socialistic endeavors, then you don’t want to hear about it in France if you are a Democrat.

Kyle has reminded us to think about it..

Just saying..

March 12th, 2012
8:46 pm

Tiberius – Your lightning rod of hate!
March 12th, 2012
8:30 pm

“If your feelings are hurt, just say so.”

Nope, just offended at people who ASSume, Just saying.

And ASSume wrongly, as usual.

Understand. I wouldn’t want to defend the logic of your arguments either.

Tiberius - Your lightning rod of hate!

March 12th, 2012
8:52 pm

Dusty @ 8:31 – Testify! :D

Tiberius - Your lightning rod of hate!

March 12th, 2012
8:53 pm

“I wouldn’t want to defend the logic of your arguments either.”

As if you could defend logic in the first place . . . :roll:

MarkV

March 12th, 2012
9:17 pm

Dusty,

Where did you get the idea that I want to score points?
I am sure Kyle appreciates your comment on the effect of the European situation on the election. Bless your heart for trying to stay on subject. That is about the most I can say about it, but it is still better than most of the rest ofthe comments today..

@@

March 12th, 2012
9:20 pm

A CBS poll has the majority of Americans believing that a president can impact gas prices.

That one surprised me.

Good article over at WSJ regarding Bernanke’s maintaining low interest rates. They’ve been too low for too long. The bill’s GONNA come due and it’ll be we, the taxpayers, who will pay for this for the fed’s dilly dallying.

Rush Limbaugh: Jane Fonda wants him kicked off air. Should FCC listen?

Silly women!

….do we really want the US government to use its power to enforce speech codes? Yes, the First Amendment is not absolute, but if liberals go after Limbaugh in this manner, conservatives won’t just sit there, inactive. Plenty of folks on the right will are mad about Bill Maher’s words about Sarah Palin, and talk show host Ed Schultz’s language, and so forth. First they come for Rush Limbaugh, and then they come for Rachel Maddow.

Payback would be a…you know…

schnirt

In another CBS poll:

51 percent of Americans believe employers of any kind should be allowed to opt out of covering birth control for religious or moral reasons. Forty percent say all employers should have to cover contraceptive care.

When asked specifically about religiously-affiliated employers, 57 percent of Americans said they should be able to opt out of the mandate if they have religious or moral objections. Thirty-six percent said such organizations should have to cover birth control.

51 percent of Americans would support U.S. military action in Iran for purposes of stopping the country from developing a nuclear weapon.

Fifty-one percent of independents would support taking U.S. military action in Iran to prevent the country from developing nuclear capabilities

40 percent of Democrats, would be in favor.

@@

March 12th, 2012
9:27 pm

Tiberius - Your lightning rod of hate!

March 12th, 2012
9:37 pm

I think Kyle only allows one link per post, @@.

@@

March 12th, 2012
9:41 pm

@@

March 12th, 2012
9:52 pm

What’s the old saying…Believe none of what you hear and only half of what you see?

IDF, Activists Expose Anti-Israel Campaign

When anti-Israel lies are spread online, a lot of times they stick around for good. Even after the false claims are wholly debunked, it’s hard to get rid of them once they’ve seeped into the Twitter bloodstream.

But the Israeli Defense Force public relations office has improved its response efforts, and today it was able to push back fairly effectively against three disgraceful smears spread by anti-Israel activists and Palestinian officials about the current IDF operation in Gaza.

Nowadays it’s best to believe none of either.

@@

March 12th, 2012
10:21 pm

Funny!

Old Age and Other Laughs

Being an insurance salesman and having me there in his office, Jack couldn’t resist asking me if my wife and I have assisted-living insurance, a policy designed for older people that pays for caregivers (or minders, as the English, more precisely, call them), thus allowing those suffering from dementia or other devastating conditions to avoid nursing homes. Assisted-living insurance is very expensive, especially if one first acquires it in one’s 70s, the decade my wife and I are now in.

“Thanks all the same, Jack, but we have no need for assisted-living insurance,” I said. “We have pistols.”

“Great,” he replied, nicely on beat. “I just hope when the time comes to use them you are able to find them.”

Just saying..

March 12th, 2012
10:25 pm

Tiberius – Your lightning rod of hate!
March 12th, 2012
8:53 pm

“I wouldn’t want to defend the logic of your arguments either.”

As if anyone could defend my logic in the first place . . .

Fixed up your typo, Tib.

Any Bad News Anywhere Is Alwlays Good News For The Gop To Blame Obama

March 12th, 2012
10:33 pm

Saturday, March 10, 2012

The Big Story

Recovery Spring: Economy Keeps Growing, Adding Jobs

The United States added 227,000 jobs in February in the latest display of the economic recovery’s surprising breadth and brawn. Though unemployment remained at 8.3 percent, the past three months have brought the strongest job growth since the Great Recession, boosting President Obama’s re-election prospects.

YOU CAN’T KEEP A GOOD MAN DOWN

Hillbilly D

March 12th, 2012
10:43 pm

On the other hand, I know somebody who just got laid off from their job of more than 25 years (with a national company). Don’t really see anything getting better, in my neck of the woods.

@@

March 12th, 2012
10:49 pm

@@

March 12th, 2012
10:53 pm

The number of unemployed persons, at >>>12.8 MILLION<<<, was essentially unchanged in February.

Tiberius - Your lightning rod of hate!

March 12th, 2012
11:23 pm

“Recovery Spring: Economy Keeps Growing, Adding Jobs”

Only in the liberal media does stagnation = recovery.

[...] Le Pen set to join presidential raceBBC NewsChristian Science Monitor -euronews -Atlanta Journal Constitution (blog)all 688 news [...]

Tiberius - Your lightning rod of hate!

March 13th, 2012
9:10 am

Finn McCool (Class Warfare = Stopping Rich People from TAKING MORE of OUR MONEY)

March 13th, 2012
9:30 am

Ya’ll gonna need more than a Frenchman to blame for what is going to happen in November. Might be a good time to start your list of scapegoats:

1) that french guy
2) women and their reproductive rights
3) citizens united
4) Bill Ayers
5) Reverend Wright
6) did I mention that french guy?
7) Mitt was a bad candidate to begin with
8) Afghanistan
9) brown people
…..

Do what??????

March 13th, 2012
9:36 am

“Only in the liberal media does stagnation = recovery.”

Yeah, I was watching Morning Joke and they were talking about the new CBS/NYTIMES poll about Obozo’s numbers being in the tank. Not one of them could come up with an excuse.

Face it left wigners, Obozo is a terrible president.

Do what??????

March 13th, 2012
9:36 am

“The Big Story”

It’s not a good idea to post a story without a link.

Post the link.

Do what??????

March 13th, 2012
9:38 am

“Ya’ll gonna need more than a Frenchman to blame for what is going to happen in November.”

Yes, the left wingers are going to need a better excuse.

When Obozo loses their excuses will be:

1: Evil white people
2: Evil Christian white people
3: Bush did it
4: Halliburton did it.
5: Enron did it
6: Palin did it
7: Rush did it

Do what??????

March 13th, 2012
9:43 am

Mitt is a smart man for not picking sides.

Mitt Romney praises Alabama, Auburn football but won’t pick a favorite

http://www.al.com/sports/index.ssf/2012/03/romney_praises_alabama_auburn.html

St Simons - we're on Island time

March 13th, 2012
10:11 am

Dreams are gettin pretty thin in con-world, I see.

heehee

“Dream onnnn, Dream until yo dreams come true” – Aerosmith Jefferson

Finn McCool (Class Warfare = Stopping Rich People from TAKING MORE of OUR MONEY)

March 13th, 2012
10:20 am

Mitt is a smart man for not picking sides.

Great! One thing he won’t have to flip-flop on!

polite golf clap…

Do what??????

March 13th, 2012
10:22 am

“Great! One thing he won’t have to flip-flop on!”

Like Obozo.

Do what??????

March 13th, 2012
10:23 am

“Dreams are gettin pretty thin in con-world, I see.”

Our dream will become your nightmare in November, rat.

Tiberius - Your lightning rod of hate!

March 13th, 2012
10:23 am

“Ya’ll gonna need more than a Frenchman to blame for what is going to happen in November. Might be a good time to start your list of scapegoats:”

This from a supporter of the biggest “Blame everybody but me” President in the history of this nation? Too funny! :lol:

Do what??????

March 13th, 2012
10:29 am

“I will close Gitmo when I am president.” – Obama

“The stimulus will create 20 million new jobs.” -Obama

List can keep going and going and going……

Finn McCool (Class Warfare = Stopping Rich People from TAKING MORE of OUR MONEY)

March 13th, 2012
10:37 am

the biggest “Blame everybody but me” President

Yeah, W couldn’t blame Clinton for anything…a surplus, 8 straight years of growth. Not much to choose from.

W was too busy effing everything up to have time to blame anybody else.

Finn McCool (Class Warfare = Stopping Rich People from TAKING MORE of OUR MONEY)

March 13th, 2012
10:51 am

10) voter fraud
11) black panthers

Tiberius - Your lightning rod of hate!

March 13th, 2012
10:57 am

“a surplus,”

No surplus at all. Phony bookkeeping on SS funds made it look like a surplus. Please get your facts straight (and yes, Newt is wrong on touting his “surplus” as well).

“8 straight years of growth.”

Phony, dot-com bubble with predominantly minimum wage jobs in the service sector.

But other than that, Finn, you’re spot-on as usual! :roll:

Finn McCool (Class Warfare = Stopping Rich People from TAKING MORE of OUR MONEY)

March 13th, 2012
11:06 am

hehehe

Denial isn’t just a river in Africa.

Tiberius - Your lightning rod of hate!

March 13th, 2012
11:13 am

And reality isn’t in YOUR playbook.

Intown

March 13th, 2012
12:01 pm

You know that Obama is neither a Frenchman or a socialist. Right Kyle?

Do what??????

March 13th, 2012
12:19 pm

“Yeah, W couldn’t blame Clinton for anything…a surplus, 8 straight years of growth.”

W never blamed anything on Clinton. 8 years of growth? HAHAHAH!!!!!!!!!!!

Clinton’s legacy will ALWAYS be Lewinsky.