French auditors reveal a $43 billion funding shortfall for 2012 and ’13, forcing Socialist President François Hollande to shift his focus from progrowth efforts to measures that look a lot like austerity he criticized elsewhere
debt crisis
E.U. Summit: Up All Night, But Consensus Finally Reached
Billed as the “last chance” summit to contain the escalating euro crisis, the meeting of EU leaders produces measures to relieve short-term financial pressures on vulnerable members, and lay the framework for significant …
After Socialist Romp in Elections, France’s Conservatives Face Existential Crisis
French President François Hollande’s Socialists win formidable legislative control, while France’s conservatives suffer the consequences of having pandered to the country’s far right
Greek Elections: A Referendum on the Euro?
Greeks go to the polls on Sunday in an election that could determine whether the country stays in the euro zone — and perhaps the future of the currency union itself
François Hollande’s Leftist Allies Lead French Vote
Leftist parties appear set to capture a majority in France’s parliamentary elections, leaving François Hollande with a freer hand to enact the pro-growth, socially-attentive policies he’s promised amid Europe’s debt crisis.
Euro Crisis: Spain Inches Closer to a Bank Bailout
After declaring that there would be ‘no bank bailout’ in his country, Spanish Prime Minister Mariano Rajoy looks set to ask the E.U. for financial assistance for Spain’s beleaguered banks.
After Greece and France: Europe’s Revolt Against Austerity
I have a piece in the dead-tree TIME this week that looks at the election of François Hollande in France and connects it to the democratic revolt happening in Greece. What do they have in common? Both are reactions to the …
Who Is François Hollande? What You Need to Know About France’s Next President
Most of the world now knows François Hollande as the man who won France’s May 6 presidential election, and in so doing made incumbent Nicolas Sarkozy the nation’s first single-term head of state in 31 years. Many people have …
After Winning the French Presidency, What Will François Hollande Do Next?
Though it’s an obvious cliché (and one that has already been used here in a related story last autumn), winning the Elysée may have been the easy part for French president-elect François Hollande. Given the severity of the …
France Election: Socialist Hollande Defeats Sarkozy for Presidency
France was poised for major change Sunday night when Socialist candidate François Hollande looked set to beat conservative incumbent Nicolas Sarkozy in runoff balloting for France’s presidency. Initial results revealed at 8 …
Why Voters in Europe Want a Change of Tactics in the Euro Crisis
Given the catastrophic mantra rising in media reports and from certain pundits, one contrarian point needs to be made clear: democracy can’t and won’t kill the debt-stricken euro. As Europeans at the ballot box are …
Between Growth and a Hard Place: Tough Choices for France’s Next President–Whoever that May Be
As the French presidential election heads into first round voting April 22, a burning question is being grafted to the issue of “who will win?” French and European observers are now also asking “what will the outcome mean …
TIME Interviews French Presidential Front-Runner François Hollande
This is an extended version of TIME’s interview with Socialist Party candidate and Elysée frontrunner François Hollande. A condensed text is published in the international editions of TIME (and