FAIT ACCOMPLI: President Francois Hollande’s new Socialist administration is starting to shake up French policy on whom to tax and how to spend — changes that would effectively roll back much of what ex-President Nicholas Sarkozy and his center-right government accomplished.

ZUT ALORS!: Under an amended 2012 budget being pushed through Parliament, wealthy people and large companies are likely to see more of their earnings taxed, while government spending has remained largely untouched.

VIVE LA DIFFERENCE: The budget is a clear contrast with the rest of Europe, where austerity cuts are being introduced to reduce deficits.