Election rout could weaken Hollande’s reform drive, tilt growth debate

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Sunday’s European election rout will make it even harder for Francois Hollande to reform the French economy but his weakness at home could prove to be a bargaining chip in building support for an EU growth drive.While Hollande reacted to defeat in March’s town hall elections by bringing in a new prime minister and promising to speed up reform of France’s complex local government, faced with the rise of the far-right he has this week merely reiterated his call for Europe to re-focus on economic growth and investment.Officials say France will not only maintain its structural reforms and hit deficit and debt targets, but will also tilt policy towards growth and social justice to counter the surging National Front.Some fear Hollande may not be able to square the circle.

For full report read ….. http://www.reuters.com/article/2014/05/29/us-eu-election-france-analysis-idUSKBN0E90HV20140529

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