Apparently, the prevailing view among pundits is that victory in the French election for Marine Le Pen, the anti-euro leader of the far-right National Front, is a “remote yet not implausible possibility.”
And what if Marine Le Pen defeats the odds and actually wins the French election?
How would that effect the markets?
According to analysts, “it could pose a major risk to European equities and spur concerns over the future of the eurozone.”
“It would be seismic, bigger than Trump or Brexit for markets, if Le Pen got into office and called into question the euro itself,” said Paul Griffiths, chief investment officer of fixed income and multiasset at First State Investments.
Yes, indeed. “Ms. Le Pen has vowed to take France out of the euro and bring back the franc, which could cause the country to default on its debt while questioning the viability of weaker eurozone economies such as Spain and Italy.”