Socialism, it can be said with some justification, has come home. France, since the 19th century, has been the nursery of socialists and their ideas. Therefore, it is apposite that it should elect Francois Hollande as president over the conservative Nicolas Sarkozy. It is an important and significant turn in French politics. Its implication for Europe remains to unravel. Mr Hollande’s win was in no way a surprise. The French people’s disapproval of Mr Sarkozy had become evident in recent months. More than a rejection of Mr Sarkozy as a person, his lifestyle and manner, the vote was an expression of the dislike of his policies at a time when the French and other European economies are in the throes of a serious crisis. Mr Sarkozy’s solution to the crisis, like that of many other right-wing leaders across Europe, has been austerity and greater austerity. This policy, for obvious reasons, has not been very popular, and also, equally importantly, it has not yielded any great result in France and in Europe. In France, the unemployment rate of 10 per cent is the highest in more than a decade. Austerity is being seen as impeding growth.

Mr Hollande’s views are, of course, very different from those of Mr Sarkozy and even from those held by the German chancellor, Angela Merkel. He proposes to increase public spending to stimulate growth. The areas on which he wants to concentrate are significant: rise in minimum wage, State subsidies for business and more spending on training programmes. He also wants to put a cap on petrol prices. Mr Hollande, as a socialist, is no convert to the gospel of free market. He has a vision that almost is Charles de Gaulle like: “We need everything France has got to offer.’’ He recognizes that he is on a short fuse; if he is unable to deliver, the same electorate that voted for him will turn against him. Mr Hollande’s presidency has no apprenticeship period. The new president, because of his beliefs, will be forced to negotiate with Ms Merkel. He cannot afford an open rift with Berlin but the equations are bound to change because Mr Sarkozy never defied the German chancellor. Within France, Mr Hollande is nicknamed “Monsieur Normal’’, which could mean he is average rather than flamboyant. It could also indicate that he personifies what most French people like to think about themselves: aloof and intellectual. It is clear though that Monsieur Normal is not going to enjoy a normal presidency.