Hollande and CAP: All are trying to analyze the implications of socialist Francois Hollande's win of the French presidency this past weekend. The right and left in Washington are even weighing its implications for the U.S. presidential election later this year, with each claiming it benefits their side. Despite some of the rhetoric of the Hollande campaign and the rejection of the German-led austerity campaign across the debt-burdened member states, the bond markets and risk to the euro make a return to profligate spending unlikely.Somewhat interesting is press speculation that Hollande chief of staff Stephane Le Foll will become minister of agriculture. Le Foll has been a socialist member of the European Parliament where he has served on...