Facing into a battle royal

THE election of socialist François Hollande should mark a major change in the mood music among EU citizens, hard-pressed by recession and austerity.

But while he will carry the hopes of many for a brighter tomorrow, his scope to bring about change will be limited by the realities of international finance, domestic interests and the path on which the eurozone is already well launched.

Even for Ireland — where Nicolas Sarkozy was perhaps one of the most hated men in Europe over his demands the country increases its corporation tax rate — the impact could be minimal.