France's stock market opened deep in the red Monday and the euro tumbled after the Socialist candidate came out on top in the first round of the country's presidential election, raising questions about whether the markets are nervous about a Francois Hollande victory.
The failure of Marine Le Pen’s National Front to win a single region in the runoffs puts an end — at least for the moment — to any talk of her becoming president of France.
Regional elections, with their low turnout and proportional system, favour insurgent parties like the National Front, as illustrated by its strong showing in the first round a week ago. Yet in Sunday’s second round, voters from the left and the traditional right ganged up to deliver a series of defeats nationwide to the anti-European Union, anti-immigrant party.
French President François Hollande has handed his estranged partner and the mother of his four children, Ségolène Royal, a key position in his new “government of combat,” a move aimed at reviving the Socialist Party after a crushing defeat in municipal voting.
The high-profile Socialist was reportedly blocked from entering Hollande’s first cabinet by his notoriously jealous ex-girlfriend Valerie Trierweiler, whose enmity with Royal runs deep.
Two recent events regarding Marine Le Pen and her eurosceptic party have the nannycrats in Brussels worried. The first occurred in early October when Marine Le Pen's Eurosceptic "National Front" Party Took Lead in France National Poll.
Yesterday, a huge victory by the National Front in a local election had the nanmnycrat alarm bells ringing.
Japan on Tuesday warned French president-elect Francois Hollande to keep the nation's fiscal discipline in place amid worries that the new leader will overspend in a bid to boost the economy.Sunday's victory for Socialist Hollande -- and the huge losses for the two main parties in Greece -- came amid a backlash against the austerity measures put in place across Europe to tackle the region's debt crisis.But Finance Minister Jun Azumi told a regular news conference in Tokyo: "Our stance is unchanged.
No-Confidence Vote in France FailsFrench President Francois Hollande took an unusual step on Tuesday of passing a law by decree, with no parliamentary vote.Article 49.3 of the French constitution allows that, but doing so runs the risk of a no-confidence vote and dissolution of the government should the vote of confidence fail.