Exchange Rate Politics in France, 1981–1983: The Regime-Defining Choices of the Mitterrand Presidency

Abstract

In the evening of 10 May 1981, as the supporters of François Mitterrand celebrated his election as President of France, everything seemed possible for the Parti Socialiste and its allies. 1 For at least seven years, they would control an office whose potential powers exceeded those of any political executive in the democratic world. They could reasonably expect the President’s coat-tails would help them win a majority of seats in the Assemblée Nationale in the legislative elections that would soon be called. And then, with executive and legislative power secured, they could deploy the highly developed administrative apparatus of French government and its extensive role in the economy to implement the plethora of changes articulated in Mitterrand’s Cent dix propositions . 2 These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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