Börsen 26 juni 2024

juni 26, 2024

The likeliest outcomes are either an outright RN majority – and so a far-right government – or a hung parliament that spells paralysis.

Either way, says Baverez, the risks are threefold: first, a crisis of France’s sovereign debt, as the markets defy the French government much as they did the UK’s erstwhile Prime Minister Liz Truss.

Second, violence on the street. And third, institutional collapse.

“Our Fifth Republic was designed to get us through crises. But we are in a very unstable situation. The citizens are lost because the president himself is lost, so we may have a brutal break-up of the institutions.”

Across France people are aware that the country is at a dangerous crossroads.

BBC 26 June 2024

Macron's election gamble puts French democracy on the table (bbc.com)

The French president’s electoral gamble has sealed the euro’s fate as an orphan currency

Transmission Protection Instrument (TPI)

EU’s €800bn Recovery Fund

TLTRO

OMT (TSCG or ‘Fiscal Compact’)

Target 2

https://englundmacro.blogspot.com/2024/06/the-french-presidents-electoral-gamble.html

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