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.
French president-elect François Hollande has launched a preemptive attack blaming outgoing president Nicolas Sarkozy for the huge budget deficit of France.
Given Hollande wants to tax millionaires 75%, I find it quite ironic that Hollande blames the problem on "hidden taxes" of Sarkozy.
Please consider Brussels raises alert over French deficit
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.
As a refresher course in French politics, presidential elections are a two-stage process. In the first round, voters select from candidates of all the political parties. The second round pits the top two vote getters against each other.
Never before in history has a sitting French president polled so low 100 days before the first round of votes.