Anti-eu crusade doesn’t end with French election
Source: FxWire Pro - Commentary / 09 May 2017 01:15:57 Eastern Standard Time
The European leaders across the country who are in support of the European project are breathing a sigh of relief as the pro-EU candidate Emmanuel Macron won his way to the French Presidency by beating the nationalist candidate Marine Le Pen. While Mr. Macron won a decisive victory over Le Pen, it is important to note that Madame Le Pen received 34 percent of the votes or the support of almost 11 million people and everybody who supported her or did not, knew that her top agenda was to leave the European Union. The anti-EU support in Europe’s second largest economy is simply overwhelming.
However, it is not France that we want to discuss. Despite the strong rhetoric from Marine Le Pen and her increased chance of winning compared to 2012, the market was pricing just around 33 percent probability that France would leave the European Union. That number is almost 50 percent for Italy, Europe’s third-largest economy.
While the EU-skeptic Front National leader Marine Le Pen lost to the pro-EU candidate, the opinion poll from Italy suggests that the anti-EU M5S (Five Star movement) is five points ahead of the ruling Democratic Party.
Italy’s general election is due by May 2018 and according to polls, anti-Euro parties like M5S, Lega Nord, Brothers of Italy are likely to get almost 50 percent of the votes.© FxWire Pro 2018. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.