Hollande low cost

The French President, François Hollande, has now an approval rating of 19%. This is by far the lowest rate ever. It is even worse than it looks if one takes into account that he is quite new in the job and therefore cannot pretend people are tired of him. People are just disappointed. They had expected a new style of governance, combining sensitivity and reform, and got indecision instead. In times of crisis, vacillation is the worst characteristic a leader can harbour. The voters want clarity, a well-defined sense of direction, resoluteness, and ability to communicate and mobilise. You might not be 100% sure of the best way to sort out the crisis, but you have to be perceived as being fully in control.

If not, you get 19% today and 10% tomorrow. Political devaluation goes as fast as currency devaluation in a crisis country.