For the past two years conservatives and liberals across Europe have tried an economic experiment that has been an abject failure, but have been allowed to do so virtually unchallenged by social democrats who have been confused and in retreat. Faced with a lost decade of austerity induced economic stagnation and social unrest, the fight-back needs to start and the French elections will offer a clear indication of whether the European left is bouncing back or in possibly terminal decline. The stakes are high. If Hollande and the Parti Socialiste cannot win when the political odds are stacked in their favour, then the prospects for their sister-parties here and elsewhere will look increasingly bleak.
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