The French want change, and it is change that they fear. But they are no fools. They know the country needs reforms to cure its high unemployment, its slow growth and its overly-expensive welfare system. Their choice between Sarkozy and Royal will be over style rather than substance.
Sarkozy's approach is more muscular, but to get elected, he too needs to emphasize the role of government in the economy as well as the strengthening of the social system. Royal promises to bring a more "feminine" touch, but she has to adapt the traditional stance of the French socialist party to contemporary social-democracy – encouraging investment and job creation rather than attacking profit.
France still has formidable national resources – higher education, robust infrastructure, health care system and a booming demography. Whoever becomes the next president, there will be a generational change, and that is the best incentive for rebound.
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