Upcoming French Elections To Determine Fate of the Euro As A Currency

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The middle of March will bring with it elections in France that could change the fate of the European Union forever.

One of the main candidates to take over form the outgoing president of France Francois Hollande is the outsider Marine Le Pen. She is scaring bureaucrats in Europe with her words, similar to what Trump has done here.

David McWilliams, economist, writer and journalist, has warned that the coming French election may lead to the euro breaking up and that Ireland should have a ‘plan B’ and ‘print punts’ in order to be ready for the collapse of the “single currency.”

This time last year, only a few of us were suggesting that Brexit was likely. The mainstream view was that it couldn’t possibly happen. But it did. And so too did Trump. When this column argued in June that “we should prepare for President Trump”, one or two local talk shows chuckled and sneered at the mere suggestion that such a creature could inhabit the White House. But he is there.

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In December, the Italian electorate revolted against its government – again the view of ‘sensible’ people was that bolshie Italians would see reason. But they didn’t.

The next stop on this political whirlwind will be the Netherlands next month; and the big one, of course, is France. In less than 70 days, France goes to the polls and only an idiot would rule out Marine Le Pen’s chances.

The first thing to happen in the case of a Le Pen victory is that money will flood out of all non-German members of the euro. Italy will face a massive bond crisis, presaging default fears. Greece will be gone. Spain and Portugal will experience similar bond crises, and so too will Ireland. – Zerohedge

With many candidates being accused of corruption and fraud, competition is thin on the ground and Le Pen could very well be the next president.

What are your thoughts on this?



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