It is hard to exaggerate the trouble that Francois Hollande, France’s president, now finds himself in. It is not just that his popularity has collapsed and that his misguided stewardship of the French economy has crippled his country, helping to deliver a second consecutive quarter of zero growth.
The real problem is that France is slowly but surely emerging as the eurozone’s weakest link, together of course with Italy, and, if that were not bad enough, there is no meaningful prospect of either of the two countries extricating themselves from their appalling predicament.
