World - - Dec 05,2016
The current president of France, Francois Hollande, has shockingly announced his disapproval from contesting in the presidential race to mark his second term at office.
Francois Hollande’s claim has led to increased political disturbance in Europe’s second largest economy. It is reported that, the decision was made after analyzing the trends of different parties in France who are gearing up for a determined re-election in 2017. Apart from this, a reputed leftist cabinet minister had already resigned after his campaign to sack Mr. Hollande from taking part in the elections next year.
According to deputy director of research at Teneo Intelligence, Antonio Barroso, this denial by Hollande from contesting the elections in 2017 will have a confined impact on the left’s expectations of gaining power.
At present, the socialist party has a task at hand to fill the vacancy after this unexpected withdrawal by Hollande. There are several candidates within the party who are struggling for the post. Reports suggest that, Prime Minister Manuel Valls and former Economy Minister Arnaud Montebourg are the possible names who could represent the Socialists in next year’s presidential election.
Analysts, however, aren’t concerned who will head Hollande’s party, but they are seeking a leader who will be capable to deal with the current turmoil which has surrounded the nation. Depreciating economy, unemployment and security concerns due to terrorist attacks have questioned Hollande’s leadership since his appointment in 2012.
David Marsh, managing director of OMFIF said, “This is the first time in the 5th republic that you have an incumbent stepping down”. He further added that, this is a clear sign how the 5th republic hasn’t turned out to be effective. Marsh also said that French politics has hugely transformed in the past 50 years.