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April 24, 2012

What's Next if France Rejects Austerity?

Jeremy Warner, Daily Telegraph

AP Photo

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.

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TAGGED: France, Nicolas Sarkozy, Euro, Francois Hollande, austerity

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