The French Socialist party is at risk of dying out. Following three unsuccessful attempts at the presidency, the recent crushing defeat in the European elections speaks of a party in deep crisis. Britain’s Labour party has declined while in power; France’s Socialists are doing so in opposition.

Some might believe that the party’s collapse can be explained by the successes of President Nicolas Sarkozy. I do not share this view. Government deficit levels have reached and exceeded worrying highs, unemployment is rising at an alarming rate, and several structural reforms have not delivered the expected results.