Hollande sworn in as French President

Socialist Francois Hollande was sworn in as President of France today and almost immediately jetted off to Berlin for a quick meet and greet with German Chancellor Angela Merkel. Reuters: New French President Francois Hollande called for a European pact for growth to balance out German-driven austerity measures in his inaugural address on Tuesday, hours before taking his challenge to Chancellor Angela Merkel in Berlin. Sworn in with all the pomp of the French Republic, Hollande won support from Germany's opposition Social Democrats (SPD), who vowed to use their parliamentary blocking power to delay ratifying a European budget discipline treaty until Merkel accepts accompanying measures to boost growth and jobs. "I will propose to our partners a pact that will tie the necessary reduction of our public debt to the indispensable stimulation of our economies," the Socialist president said in his 10-minute maiden speech. Hollande's inauguration with military honours, capped by an...(Read Full Post)

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