Vive Le Socialism
France's new Socialist president owns three holiday homes in the Riviera resort of Cannes, valued at almost £1 million. It will reinforce accusations that Hollande is a “gauche caviar”, or “Left-wing caviar” — the Gallic equivalent of a champagne Socialist. As well as the spacious Paris apartment he shares with Valerie Trierweiler, Mr Hollande owns a palatial villa in Mougins, the hill-top Cannes suburb where artist Pablo Picasso used to live. It is valued by the Official Journal at 800,000 euros (£642,000), and is just a short drive from Hollande’s two flats close to the promenade in Cannes. They are priced at 230,000 euros (£185,000) and 140,000 euros (£112,000). Mr Hollande has promised to cut his pay by 30 per cent after he is officially sworn in as president next week, but he will still be on 156,000 (£125,000) a year, plus fabulous expenses and other perks. Vive Le Socialism.
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