Hollande's "Growth" Package

Hollande is proposing to France's European partners a growth package consisting of 3 parts: EU structural funds of 55 billion, European Investment Bank loans of 60 billion, and project bonds of 5 billion, for a total of 120 billion euros, or less than 1% of EU GDP. This is not likely to make much of an impression, even if it is approved, but with New Democracy's apparent victory in Greece and a reinforcement of Socialist power in France, Germany may be inclined to reward the Greeks for good behavior and the French for making such a modest proposal.