Since 2010, Europe has endured a terrible debt crisis. However, hopes that the 2012 French Federal Elections may bring hope to a financial stricken Europe are expected as the Office of President of the Republic passes from Sarkozy to Hollande. Francois Hollande, leader of the Socialist Party of France, won the 2012 French Federal Elections and has plans to relieve the worry of another financial crisis from happening in France, and neighboring nations. For example, Hollande plans to increase taxation to pay off national debt which plans to bring in an additional 27 Billion Euros for government usage. The European Union hopes that the predicted and hoped success with the new government will spread influence and ideas to other nations in Europe to help resolve the ongoing debt crisis. The crisis however, has subsided within the past several months and is also on the road to recovery.
Greece, also, has an upcoming Parliamentary election. Hopes that the majority Greek Socialist Party lead by a Evangelos Venizelos has similar objectives as the French Socialist Government to induce financial and taxation reform are much-anticipated. However, the last time the Greek Parliament attempted to induce a higher tax rate, the Greek population responded with deadly riots. European Nations also are concerned also that Socialist Governments may gain popularity and take over the centralized European Government. Various Socialist Political Groups have denied their attempts to take International Government Popularity. Out of all this though, many European heads-of-states are hoping that all these financial reforms will greatly solve many, at most dozens, of economic problems across Europe.
So, what are your thoughts? Will the new Socialist Governments bring economic prosperity to a new Europe? Or will the economic situation worsen and plunge into another recession?