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Ambrose Brexit may soon be matched or eclipsed by crystallizing events in France

where the Long Slump is at last taking its political toll.
A democracy can endure deflation policies for only so long. The attrition has wasted the French centre-right and the centre-left by turns, and now threatens the Fifth Republic itself.
The former economy minister says France voted for a left-wing French manifesto four years ago and ended up with a "right-wing German policy regime". 
Mr Sarkozy skirts this elemental issue. His shock manifesto demands the end of EU legal primacy over French law and a repeal of the Lisbon Treaty, 
the same treaty that he rammed through the French parliament by party whip after it had it had already been rejected by French voters in a referendum - in its earlier guise as the European Constitution.

But the future of the European economy and its single currency is more likely to be decided on the streets.
Gideon Rachman, FT October 18 2010

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