Does Ed Miliband feel betrayed by Francois Hollande?

President Hollande’s private life continues to fascinate the whole world (other than the French press pack, obviously); but it is worth noting that the embattled president signalled a major shift in economic policy yesterday. France is a couple of years late to the austerity party; but it will experience €50 billion worth of cuts in 2015 – 2017, on top of the €15bn scheduled for this year.