Sarkozy Out in France … Loses to Socialist Francois Hollande … Obama Quick to Invite Socialist to White House

Nicolas Sarkozy is out as French President. Over the weekend he lost to the socialist candidate Francois Hollande. France thought they were in a predicament now? France will learn just like everyone else has who embrace socialism, eventually you run out of other people’s money.

Socialist Francois Hollande swept to victory in France’s presidential election on Sunday in a swing to the left at the heart of Europe and promised to start a pushback against German-led austerity policies.

Hollande led conservative incumbent Nicolas Sarkozy by 51.3 percent to 48.7 percent with 83 percent of votes counted, the Interior Ministry said, bringing the centre-left back to government in Paris after a decade in opposition.

It took less that 24 hours for Barack Obama to invite socialist French president-elect Francois Hollande to the White House. That was quick. What are the two going to do, compare notes? You know what they say … water seeks it’s own level.

President Barack Obama congratulated French president-elect Francois Hollande for his victory Sunday, but warned of “challenges” ahead, a clear reference to Afghanistan and eurozone debt crisis.

The US president was among the first world leaders to welcome Hollande’s election as France’s first Socialist president in nearly two decades, a result sure to have major implications for Europe as it struggles to emerge from a financial crisis.

Obama invited Hollande for bilateral talks at the White House later this month ahead of a G8 leaders meeting he will host at his Camp David retreat in Maryland between May 18-19, and a NATO transatlantic alliance summit in Chicago on May 20-21.

The result of the socialist win in France … the Euro weakens and the wealthy French look to move across the English Channel to escape the most certain war on the successful.

The “soak the rich” rhetoric that has punctuated the presidential campaign has prompted a sharp rise in the numbers weighing a move across the Channel, according to London-based wealth managers, lawyers and property agents specializing in French clients.

François Hollande, the Socialist candidate who leads the presidential race after the first round of voting last week, wants to impose a tax rate of 75 per cent on income above €1m and at the launch of his bid in January said: “My true adversary in this battle has no name, no face, no party … It is the world of finance.”

Sound familiar? No wonder Obama invited him to the White House in record speed.