This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Thousands Protest Hollande's First Year as French President

By Sarah DiLorenzo

PARIS -- Tens of thousands of supporters of leftist parties marched through central Paris on Sunday to express disappointment with President Francois Hollande's first year in power, criticizing the leader for reneging on his promises to rein in the world of finance and enact economic stimulus.

Hollande, a Socialist, rose to the presidency last May, promising to spare France the austerity measures imposed elsewhere in Europe. And the French government has largely avoided the deep spending cuts, big tax hikes and the wide-ranging reforms of many of its neighbors.

Instead, it has nibbled around the edges of its deficit, cutting 10 billion euros ($13 billion) in spending and increasing taxes, largely on the rich, by 20 billion euros. That's relatively little for a country with 2 trillion euro economy of which 57% is government spending.

Still, France's economy has continued to deteriorate, with growth stagnating and unemployment rising above 10%.

Leftists who took the streets on Sunday -- largely from parties to the left of Hollande's mainstream Socialist Party -- rejected the notion that Hollande had spared France a worse fate.

"Salaries are frozen. They continue to reduce hiring in the public sector," said Brigitte Blang, a 64-year-old teacher from eastern France. "We're waiting for true leftist policies. There's money in the coffers!"

Blang was among tens of thousands of people from around the country who gathered around Paris' iconic Place de la Bastille, named for the prison stormed by French revolutionaries in 1789. They carried signs that said, "Down with austerity," ''Out with finance, humans first" and "OUSTerity -- finance should pay."

Paris police said 30,000 people showed up, although protest organizers said there were 180,000. After speeches, the crowd marched to another Paris square.

Several protesters acknowledged that they voted for Hollande a year ago -- either simply to ensure the incumbent Nicolas Sarkozy's defeat or because they had hope for his leadership.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $130.28 0.00%
FB $79.19 0.00%
GOOG $532.11 0.00%
TSLA $250.80 0.00%
YHOO $42.94 0.00%

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs