• Anti-eu crusade doesn’t end with French election

    Source: FxWire Pro - Commentary / 09 May 2017 01:15:57   America/New_York

    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.

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