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07 May, 2007

A more vibrant France?

As Sarkozy gets prepared to swear in as the 6th president of the 5th republic, one thought on the mind of many is whether he will succeed in pushing the country through much needed reforms by aligning France closer to the revered anglo saxon models of the U.S. and the U.K. The shortcomings of France's form of socialism have been particularly felt in the last decade with globalization taking a heavy toll on an archaic and highly inefficient system based on generous state subsidies and a particularly rigid labor market. If France is serious about competing in the 21st century world order, it will have to change its ways and it seems that the population is ready to embrace this change. Whether he succeeds or not is another story but what happened yesterday signals end of an era for socialism and a new beginning in which true reforms have a chance to see the light of day.

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