Last week we published an article about Nicolas Sarkozy who decided to ban cheese from the menu at the Elysee Palace, but today no more cheese, serious talks instead. We’re talking about chaos…
In a recent article by Matthew Yglesias published on Slate, the journalist writes: ‘The next crisis, however, may center on France and be much worse. In particular, incumbent President Nicholas Sarkozy has been warning French voters that electing his Socialist opponent François Hollande could turn France into the new Greece and has even been hinting that the panic is back precisely because Hollande is leading in the polls.’
It is indeed true: François Hollande said he will renegotiate the eurozone fiscal compact that everyone agreed to last year. And since he is leading in the polls, speculations abound. Yglesias adds: ‘If the government of France goes into open conflict with the government of Germany and the European Central Bank over the basic premises of Eurozone economic policy, then you have a profound political crisis at the heart of the project with implications much more profound than anything that could possibly happen in Greece.’
It sounds pretty bad for France, doesn’t it? Maybe not, Yglesias thinks otherwise: ‘But France isn’t Spain—it has nuclear weapons and a seat on the U.N. Security Council. The euro could really break up, or else the powers that be in Germany could be forced to undertake the kind of measures that would be required to make it work.’
So let’s be optimistic: a Sarkozy loss could plunge Europe into chaos… in a good way!