Hollande's top economic advisor prepares entente with Merkel

In a display of pragmatism Francois Hollande ignores Angela Merkel's support for Nicolas Sarkozy and asks his top economic policy advisor to underline the common ground between the French Socialists and Germany's current government. In an interview with Frankfurter Allgemeine Zeitung, Michel Sapin, a former Socialist finance minister, stressed that Germany was right to insist on budgetary consolidation and that Hollande would be serious about solid public finances. But Sapin stressed growth was needed to achieve that pointing out that you cannot get a country's finances back on track with a growth rate of 0.5% for five years. Sapin also stressed that Hollande would not seek a change of mandate for the ECB because under Mario Draghi the central bank was doing excellent work. This point is noteworthy because the Socialist's programm foresees that the inflation fighting mandate is extendet to growth enhancement.

As some European neighbours criticise Merkel's hardline austerity-driven solutions for the sovereign debt crisis, 64 percent of her constituents said they approved of her job performance, according to the poll for ARD television.

It was her highest share of the electorate since December 2009, three months after she was elected to a second term.

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Respondents said they admired Merkel as "honest and not seeking her own advantage" (73 percent), for taking "correct and decisive action" in the eurozone crisis (61 percent) and for "not acting like a partisan politician but as someone who is above the fray" (55 percent).

Eight[y]-five percent appreciated "how she represents our country in the world".