The Fate of the Eurozone Hangs on Sunday's French Elections
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The Fate of the Eurozone Hangs on Sunday’s French Elections
By Martin Hutchinson
It now looks as though Nicolas Sarkozy’s days are numbered. In the balance lies the fate of the Eurozone itself.
It appears Socialist Francois Hollande will win the French election runoff on Sunday and that June’s legislative elections will give the Socialists a powerful position in France’s parliament.
Added to these developments is the good chance that both the major existing parties in Greece’s parliament, which had jointly agreed to the bailout deal, will be voted out of office on Sunday as well and replaced by a motley set of far-lefties.
So while the Eurozone has been quiet this week, the calm is deceptive with the elections on Sunday.
Meanwhile, most of the worry in the Eurozone centers on Spain – which is quite foolish.
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