On Sunday France may get a new President. As I've said before, it would be better for France if Sarkozy gets re-elected. It looks, however, that François Hollande will win.
A socialist victory may be a marvellous fillip for the Prime Minister. Just as the Government here is looking a little shaky, with bad economic results spreading from the Euro-zone, could a left-wing victory in France show us what we may have experienced if Gordon Brown had won the 2010 election. High taxes subsidising extra spending, and along with more borrowing could give us an idea of the current Ed Balls plan too.
My hunch is that France will get a very quick shock from the ratings agencies, and and plunge the Euro-zone into more problems. Expect stock markets around the world to plummet on Monday and a large amount of lashing out.
It could get messy, but may be more so for the two Eds.
Squiffy.
No comments:
Post a Comment