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As old generation French politicians are approaching the dusk of their political career, France with new generation presidential candidates is looking for a change. The choice for French voters in the presidential run-off will be between Nicolas Sarkozy on the centre-right and Socialist Segolene Royal.
The forthcoming French presidential elections will be an important change for the French political world. For the first time, one of the top candidates is a woman in a country traditionally dominated by men.
However, the 'new generation change' needs reform to get rid of its high unemployment, its slow growth and its terribly expensive welfare system. Their choice between more muscular 'Sarko' and feminine 'Sego' will be over style rather than substance.
The new president of France, be it 'Sarko' or 'Sego', will face a tough challenge in putting the French economy back on its feet. France's list of economic woes is long.
• It suffers sluggish annual growth of 2.1%, making it stand on 10th spot among European nations. Even Germany is performing better with a growth rate of 2.7%.
• Its 8.8% unemployment rate is among the highest in Europe. To pay for its welfare state, it has gone into debt that equals almost two-thirds of its economic output.
• Another problem for France is the huge portion of state-owned companies that go through the motions without being particularly successful in the market.
• French worry of loosing jobs to China, India and Brazil is a broader problem as it would lessen French influence on the world stage.
• Even bigger is the problem related to the health of the euro that largely depends on whether the next French president can stimulate growth.
It remains to be seen whether the new French president will be able to go on board on a more promising course. However, the odds are not good and signals more drastic outcome in France's way.
First taking up Royal, who can hardly do anything to increase the flexibility of the French labour market. Royal has proposed government subsidies for companies that hire young immigrants but she advocates military-run boot camps for youthful offenders.
Now Sarkozy, who will probably continue to support France's lumbering giants, as he has done frequently in the past. Sarkozy's more muscular approach to get elected is not a good remedy for France's ailing economy and flagging self-confidence.
Sarko' and 'Sego' may have preparing themselves for a royal battle, representing a troubled nation with a sluggish economy, unemployment and increasing social woes won't be a bed of roses.
