Influential British news magazine The Economist has published a damning analysis of the French Socialist party in its latest issue, describing it as "Europe's most unreconstructed" left-wing party.

"/> Influential British news magazine The Economist has published a damning analysis of the French Socialist party in its latest issue, describing it as "Europe's most unreconstructed" left-wing party.

" />
SHARE
COPY LINK

FRANCOIS HOLLANDE

The Economist slams Socialist ‘dinosaurs’

Influential British news magazine The Economist has published a damning analysis of the French Socialist party in its latest issue, describing it as "Europe's most unreconstructed" left-wing party.

Manuel Valls
SNES

As the party met for its annual summer conference in the chic coastal resort of La Rochelle over the weekend, the free-market supporting weekly criticized most of the contenders in the current race to be selected as the candidate in presidential elections in 2012.

Only one candidate, mayor and member of parliament Manuel Valls, was singled out as having a “refreshingly modern view of the left.”

The magazine described current front-runners François Hollande and Martine Aubry as “frozen in time, circa 1981.”

It criticized their intention to return the retirement age to 60 (it has just been increased to 62) and plans to create 300,000 public sector jobs for young people.

Even more ire was aimed at the 2007 presidential candidate, Ségolène Royal, and fellow candidate Arnaud Montebourg.

Royal has argued that stock options and speculation on foreign debt represent “anarchic globalization” and should be banned.

Montebourg has written a book arguing for “deglobalization”, a process that would reverse the trend of shifting production to low cost regions in the world. Their views were described as “patent nonsense” by the magazine.

In contrast, Valls is praised as the only candidate who “dares utter such truths”.

Valls himself seemed pleased, although modest, about the endorsement. “The Economist’s analysis of the different personalities and of what I represent were pertinent,” he said.

As the conference wound up on Sunday, an opinion poll showed that François Hollande still has a comfortable lead.

The poll, by Ifop for newspaper Journal du Dimanche, gave Hollande 41 percent, ahead of his closest rival, Martine Aubry, on 31 percent. They were followed by Ségolène Royal (13 percent), Manuel Valls (6 percent) and Arnaud Montebourg (5 percent).

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

FRANCOIS HOLLANDE

Here’s the latest in France’s presidential race

President Francois Hollande warned would-be successors they should cleave closely to Europe as it was "impossible" that France could contemplate going its own way.

Here's the latest in France's presidential race
French centrist candidate Emmanuel Macron in Reunion. Photo: Eric Feferberg/AFP

Here are three things that happened in the campaign on Saturday:

Let them throw eggs

Conservative candidate Francois Fillon, under pressure over allegations of fake parliamentary jobs for the family which have hit his poll ratings, received a chaotic reception on a trip to the southern Basque region where some protesters pelted him with eggs.

Fillon, who has accused Hollande of helping foment a smear campaign against him amid claims his wife was on the public payroll but did little for her salary, ran the gauntlet in the small town of Cambo-les-Bains.

Locals demanding an amnesty for radical Basque nationalists banged pots and pans, hurled abuse and objects.

“The more they demonstrate the more the French will back me,” Fillon insisted before meeting with local officials.

Warning on Europe

President Francois Hollande warned would-be successors they should cleave closely to Europe as it was “impossible” that France could contemplate going its own way.

In a barb aimed at far-right National Front candidate Marine Le Pen, Hollande said: “So some want to quit Europe? Well let them show the French people they would be better off alone fighting terrorism without the indispensable European coordination…

“Let them show that without the single currency and (single) market there would be more jobs, activity and better purchasing power,” Hollande said in Rome where he attended the ceremonies marking the EU's 60th anniversary.

Le Pen, favoured in opiniion polls to reach the second-round run-off vote in May, wants France to dump the euro, but Hollande said that would lead to devaluation and loss of purchasing power as he warned against nationalist populism.

'Not Father Christmas'

French centrist candidate Emmanuel Macron, seen in polls as beating Marine Le Pen in the May 7 run-off, was in Reunion, a French overseas department in the Indian Ocean, where alongside discussing local issues, he told voters he was “not Father Christmas.”

“I don't have the solution to all problems and I am not Father Christmas,” the 39-year-old former economy minister and banker admitted, saying he had not come to make “promises.”

He indicated he would focus on education as a priority on an island where around one in five youths are illiterate.