Early reports suggest that France has turned to the left and elected Socialist Francois Hollande as the new President .... if this turns out to be true, then not only is the first defeat of an incumbent president in France since 1981 when Valery Giscard d'Estaing was beaten by socialist Francois Mitterrand and
who went on to have two terms in office.
But this time it may signal the end of the Euro dream, because Pres. Hollande has publicly pledged to reverse or reduce many of the policies of debt reduction being carried out by ex Pres. Sarkozy and which had been agreed by Chancellor Merkle of Germany. This could lead to a split between France and Germany over the Euro currency and this may be the final trigger for some countries such as Greece, and Spain to leave the Eurozone.
Coincidentally, the Greeks also gave a crushing rebuke to the main political parties in a general election, and its likely that the hard worked agreements between Greece and the IMF and European Central Bank, will now collapse.
Where this leaves the Euro project will no doubt be debated for months, but for the Eurozone, another bout of instability is extremely likely in the coming weeks, and its one that it may not survive.
As the old Chinese proverb is said to go .... we live in interesting times.
 |
| Pres. Hollande - End Of Eurozone? |
But this time it may signal the end of the Euro dream, because Pres. Hollande has publicly pledged to reverse or reduce many of the policies of debt reduction being carried out by ex Pres. Sarkozy and which had been agreed by Chancellor Merkle of Germany. This could lead to a split between France and Germany over the Euro currency and this may be the final trigger for some countries such as Greece, and Spain to leave the Eurozone.
Coincidentally, the Greeks also gave a crushing rebuke to the main political parties in a general election, and its likely that the hard worked agreements between Greece and the IMF and European Central Bank, will now collapse.
Where this leaves the Euro project will no doubt be debated for months, but for the Eurozone, another bout of instability is extremely likely in the coming weeks, and its one that it may not survive.
As the old Chinese proverb is said to go .... we live in interesting times.
