The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Sarkozy's chance to live up to his ambitions

www.breakingviews.com

Sarkozy's chance to live up to his ambitions

Nicolas Sarkozy is a populist and an economic liberal. Those two themes fought it out in his brief time as France's finance minister. He is also highly ambitious. That theme took the upper hand at the end of the summer. He is leaving the cabinet in order to run the UMP party and prepare for a presidential campaign.

That is a sharp move for a future national leader.

Sarkozy would have liked to be prime minister. And he would have liked to stay in the cabinet while running the party. But president Jacques Chirac does not like him. He was not able to get rid of Sarkozy – the man is too popular – but he was able to make him choose between the cabinet and the party. Sarkozy chose the party. And Chirac was forced to endorse his candidacy.

That choice makes sense for this ambitious politician, for three reasons.

First, he can leave the finance minister post while being counted a success. Sarkozy's response to higher than expected tax revenues has been firm. He has resisted pressure to use the money to expand social programmes.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree