And now there is no escape from the difficult reality that the budget deficit remains massive, at more than 4% of GDP in 2011. Except for creating 60,000 new jobs in education (following controversial cuts last year) and restoring the right (rescinded under Sarkozy) to retire at 60 for roughly 200,000 individuals, Hollande’s administration has barely any room to maneuver, and severe economic measures will have to be introduced in the 2013 budget.