Worldwide, many people worry about what a François Hollande victory could lead to, since the French presidential candidate has clearly stated his intention to review the Euro zone’s austerity measures and fiscal discipline, which were adopted by the vast majority of countries in the Euro zone two months ago.
In a piece published in today’s edition of La Presse, Yvan Loubier, Senior Consultant and Economist from NATIONAL’s Quebec City office, explains that if Mr. Hollande wins the election on Sunday, he could start working on a renegotiation of the austerity pact the very next day. This decision could bring about a period of uncertainty and instability that would not only be very costly to Europe, but to world economies as well. But, as the author adds, nothing’s over yet, and the recent example of Alberta’s Wildrose Party is a great reminder that anything can happen.
(The article, to download below, is in French.)