France's President Francois Hollande arrives on the second day of a European Union leaders summit in Brussels, Friday. — Reuters PARIS — Just over a month into his mandate, French President Francois Hollande's approval ratings have tumbled by seven points, reflecting growing economic malaise and fears of austerity measures as his Socialist government scrambles to control costs and spur growth. Confidence in Hollande “to effectively confront the principal problems weighing on the country” fell to 51 percent from 58 percent in late May, according to the survey by pollster CSA published in Friday's edition of Les Echos daily. Prime Minister Jean-Marc Ayrault, who is poised to unveil an amended budget outlining tax hikes next week, also saw his rating fall seven points to 49 percent. With Hollande's political capital waning so early in his term, plans to rein in the deficit and debt through tax increases and deeper spending cuts could become all the more complicated. Since being sworn in on May 15 to his five-year term on a wave of left-wing fervor, self-styled “Mr. Normal” has had a few rocky weeks at home politically while pressing France's case for growth measures and mutualized debt on the euro zone stage. Hollande has backed the need for bold steps to help Italy and Spain, the latest focus of Europe's financial crisis, putting pressure on the French presidency's relationship with Germany's Chancellor Angela Merkel - traditional allies within the bloc. Polls conducted in the last month have accorded him approval ratings lower than equivalent ones for his predecessor, Nicolas Sarkozy, at the start of his mandate in 2007. “The anxiety of the French towards the economic situation remains immense, and the announcement of bad employment numbers at the beginning of the week certainly influenced certain respondents,” wrote CSA in its survey results. The CSA survey polled 1,005 people by phone on June 26 and 27. — Reuters
