France is Europe's largest time bomb

An electoral thrashing and the token replacement of his Prime Minister won't stop François Hollande from determining France's direction, but his track record so far offers little cause for optimism.

By all measures, it was a defeat of historic proportions for President François Hollande and his Socialist Party. Last weekend’s French local elections have turned the country upside down, or rather shifted it to the political right. It is also a reminder that of all the time bombs ticking in the eurozone, France remains the largest and least predictable.

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