French Socialist Party Takes Lead in Elections

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The Socialist Party in France is poised to take over the lower house of parliament after a first round of elections Sunday.

The news comes as France's new president, Francois Hollande, has begun to show his socialist colors.

Hollande lowered the retirement age for french citizens from 62 to 60, a step that carries a big price tag, costing France billions of extra euros.
Many eurozone countries are trying to slash their budgets to prevent a debt meltdown across the continent.

The London Telegraph reports one conservative French leader calls the move "madness."

"I want to alert French people to the madness that is being prepared," Jean-Franois Cope, the general secretary of the centre-right Union for a Popular Movement, said. "We don't have the (money) to finance these electoral presents."

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