French Socialists Sell their Headquarters in Paris

The French Socialist Party sells its headquarters in Paris at auction, Parisian daily reported.

This is an office of 3000 sq. m. building on Solferino Street, purchased during the Francois Mitterrand in 1980. The property is valued at about EUR 40 million. At the last presidential election, socialist candidate Benoit Hamon won just over 6 percent of votes,leaving him fifth in the race. This drastically shrinked the subsidy for the party by between EUR 7 million and EUR 25 million a year, the newspaper said.