Greece on road to new election;François Hollande begins his term as Président of France

This has  been a watershed day in Europe. With considerable pomp, much joy and great expectations François Hollande has begun his term as seventh Président of the fifth République following in the historic footsteps of Charles De Gaulle, Georges Pompidou, Valéry Giscard d’Estaing, François Mitterrand; Jacques Chirac; and Nicholas Sarkozy. His speeches today emphasized a new beginning, social justice, young people and being President of all of France despite the political differences that exist among French citizens as to the correct way forward in these difficult days. We wish him the very best in the demanding days ahead.

In Greece the political deadlock has continued and it seems that new elections will be announced tomorrow. If the polls are accurate and the political dynamic does not alter it would seem very likely that the anti-austerity party will gain further support and more seats in the next election. We shall see what the June election delivers. In the meantime uncertainty about the future of the euro in Greece will continue .

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About haroldchorneyeconomist

I am Professor of political economy at Concordia university in Montréal, Québec, Canada. I received my B.A.Hons (econ.&poli sci) from the University of Manitoba. I also completed my M.A. degree in economics there. Went on to spend two years at the London School of Economics as a Ph.D. student in economics and then completed my Ph.D. in political economy at the University of Toronto. Was named a John W.Dafoe fellow, a CMHC fellow and a Canada Council fellow. I also was named a Woodrow Wilson fellow in 1968 after completing my first class honours undergraduate degree. Worked as an economist in the area of education, labour economics and as the senior economist with the Manitoba Housing and Renewal Corporation for the Government of Manitoba from 1972 to 1978. I also have worked as an economic consultant for MDT socio-economic consultants and have been consulted on urban planning, health policy, linguistic duality and public sector finance questions by the governments of Manitoba, Saskatchewan,the cities of Regina and Saskatoon, Ontario and the Federal government of Canada. I have also been consulted by senior leaders of the British Labour party, MPs from the Progressive Conservative party, the Liberal party and the New Democrats on economic policy questions. Members of the Government of France under the Presidency of Francois Mitterand discussed my work on public sector deficits. I have also run for elected office at the municipal level. I first began to write about quantitative easing as a useful policy option during the early 1980s.
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