Will the French Presidential Election Throw a Big Spanner in the Eurodeal?
The front page article in The Times is all about how Francois Hollande will change the economic direction of France when he becomes President. I said when rather than if, as the polls are strongly in his favour. He also said he would rip-up the EU’s fiscal treaty.
The psaper gives a detsiled analysis of what his policies will mean and I suspect David Cameron, Angela Merkel and anybody in France, who earns more than the average wage won’t like it. A lot of his proposals would also be against the rules of the single market.
Having read what Hollande said, I think it will be good for Britain and especially London and the City, as his proposed rules will drive entrepreneurs from France. Not that they have had many since Mitterand.
One thing I suspect that he won’t like is foreigners, who keep a house in France. I suspect thery’ll be taxed heavily and a pleasure will suddenly have become a nightmare.
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