Valéry Giscard d'Estaing

Valéry René Marie Georges Giscard d'Estaing ( UK: /ˌʒiːskɑːr dɛˈstæ̃/, US: /ʒɪˌskɑːr -/; French: [valeʁi ʁəne maʁi ʒɔʁʒ ʒiskaʁ dɛstɛ̃] ; 2 February 1926 – 2 December 2020), also known as simply Giscard or VGE, was President of France from 1974 to 1981.

After serving as Minister of Finance under prime ministers Jacques Chaban-Delmas and Pierre Messmer, Giscard d'Estaing won the presidential election of 1974 with 50.8% of the vote against François Mitterrand of the Socialist Party. His tenure was marked by a more liberal attitude on social issues—such as divorce, contraception and abortion—and by attempts to modernise the country and the office of the presidency, notably overseeing such far-reaching infrastructure projects as the TGV and the turn towards reliance on nuclear power as France's main energy source. Giscard d'Estaing launched the Grande Arche, Musée d'Orsay, Arab World Institute and Cité des Sciences et de l'Industrie projects in the Paris region, later included in the Grands Projets of François Mitterrand. He promoted liberalisation of trade; however, his popularity suffered from the economic downturn that followed the 1973 energy crisis, marking the end of the Trente Glorieuses (the "Thirty Glorious Years" of prosperity after 1945). He imposed austerity budgets, and allowed unemployment to rise in order to avoid deficits. Giscard d'Estaing in the centre faced political opposition from both sides of the spectrum: from the newly unified left under Mitterrand and a rising Jacques Chirac, who resurrected Gaullism on a right-wing opposition line. In 1981, despite a high approval rating, he was defeated in a runoff against Mitterrand, with 48.2% of the vote.