April 24, 2012
What's Next if France Rejects Austerity?
Jeremy Warner, Daily Telegraph
I'm not sure why anyone found the outcome of the first round of the French presidential election a surprise – it was always expected to result in a Sarkozy/Hollande run-off. Even so, it has helped unsettle markets anew. The prospect of a president determined to tear up the fiscal compact throws another giant spanner in the works.
TAGGED: France, Nicolas Sarkozy, Euro, Francois Hollande, austerity