French President-Elect Has Tough Road Ahead

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French President-Elect Francois Hollande's vow to punish companies that fire employees to improve profits is being met with some skepticism.
Reuters reports Hollande plans to "arm wrestle" businesses with a lot of employees.

The 57-year-old president-elect is set to take office Tuesday, and his new penalties are expected to be applied quickly.

"I won't allow a parade of firings that have been postponed," Hollande said in April on France 2 television. "There needs to be a sense of responsibility in executive suites at companies. The day after the election, before irrevocable decisions are taken, I will have to intervene."
Hollande says he dislikes the rich, including business and people, and he plans to raise taxes on the wealthy.

However, one political analyst suggested Hollande has a difficult road ahead.

"France has very difficult structural problems, especially the large number of young people without much qualification who are looking for their first job," Bruno Cautres, a political analyst at Cevipof, a political research center in Paris, told Bloomberg News.

"Francois Hollande won't be able to erase these problems with a magic wand," he said.

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