News Summary: France's budget woes underestimated

As goes the French economy, so goes the reelection chances of French president Nicolas Sarkozy. Although Sarkozy leads in round one, polls show that lead is shrinking at a pace that suggests he will not carry round one. More importantly, Sarkozy is trailing again by double digits in polls for the decisive round two. For those not familiar with elections in France, round one pits candidates from all the parties against each other on April 22. If no one gets 50%, the top two finishers square off in round two, on May 6.

The EU Observer reports France to hold jobs summit as unemployment hits 12-year high A sharp rise in France's unemployment figures is putting pressure on President Nicolas Sarkozy to deliver, with over half the French population wanting the candidates for the spring presidential election to focus their energies on maintaining jobs.

Latest polls show French President Sarkozy is losing ground to right-wing anti-euro candidate Marine Le Pen in the first round of the France presidential election. Via Google translate, please consider Le Pen and Bayrou Back

French president-elect François Hollande has launched a preemptive attack blaming outgoing president Nicolas Sarkozy for the huge budget deficit of France. Given Hollande wants to tax millionaires 75%, I find it quite ironic that Hollande blames the problem on "hidden taxes" of Sarkozy. Please consider Brussels raises alert over French deficit