I bear responsibility

Hollande has said his first act after the election will be to write a letter to other European leaders calling for a renegotiation of a budget-trimming treaty aimed at bringing the continent's economies closer together. Burberry Bags Sale, Cheap Burberry Outlet Online, 50% 0ff. Hollande wants to allow for government-funded stimulus programs in hopes of restarting growth, arguing that debts will only get worse if Europe's economies don't start growing again. Sarkozy and Germany's Angela Merkel spearheaded the cost-cutting treaty, and many have worried about potential conflict within the Franco-German "couple" that underpins Europe's post-war unity. Merkel called Hollande to congratulate him on his victory. Hollande has said his first trip would be to Berlin. President Barack Obama also offered congratulations and an invitation to the White House ahead of this month's summit of the Group of Eight leading economies at Camp David, Md., the White House said. After that, Hollande will attend a NATO summit in Chicago, where he will announce he is pulling French troops out of Afghanistan by the end of the year. While some market players have worried about a Hollande presidency, Jeffrey Bergstrand, professor of finance at the University of Notre Dame, said it's a good thing that Hollande will push for more spending throughout Europe to stimulate the economy. Europe designerburberrystore is "going into a really serious and poor situation," Bergstrand said. Hollande "is going to become the speaker for those countries that want to do something about economic growth." Sarkozy conceded defeat minutes after the polls closed, saying he had called Hollande to wish him "good luck" as the country's new leader. "I bear responsibility. ... for the defeat," he said. "I committed myself totally, fully, but I didn't succeed in convincing a majority of the French. ... I didn't succeed in making the values we share win." Sarkozy came to office on a wave of hope for change that critics say he squandered even before the economic crises hit. They saw his tax reforms as too friendly to the rich, his divorce in office and courtship of supermodel Carla Bruni as unseemly, and his sharp tongue as unfitting for his esteemed role. French politicians now turn their attention to parliamentary elections next month. With what appears to be a thin victory margin, Hollande must more than ever count on a healthy majority in June legislative elections – the next challenge for Sarkozy's conservatives. "The hour is one of mobilization. ... We must not give all the power to the left," said Jean-Francois Cope, leader of Sarkozy's UMP party. The Socialists will have blanket control of the country if they get a majority in the decisive lower house of parliament. They already preside over the Senate and hold most regions and municipalities in France. Hollande has pledged to tax the very rich at 75 percent of their income, an idea that proved wildly popular among the majority of people who don't make nearly that much. But the measure would bring in only a relatively small amount to the budget, and tax lawyers say France's taxes have always been high and unpredictable and that this designer burberry store may not be as much of a shock as it sounds.