Marine Le Pen to drop Frexit bid
National Front leader performs U-turn over attempts to ditch the Euro
by Abi Moses on 23rd May, 2017
The Euro has received a much-needed boost from a surprise source this week as France's unsuccessful right-wing presidential candidate, Marine Le Pen has confirmed she will no longer push for France to leave the single currency.
Le Pen, leader of France's National Front party had previously pledged to remove France from the Euro and restore a sovereign currency, if elected during the recent French Presidential election campaign. With Le Pen's ambitions to also remove France from the European Union, the months leading up to the presidential election proved extremely turbulent for Euro backers.
In what is seemingly a dramatic U-turn by the party, the National Front's chief economic strategist, Bernard , claimed "There will be no . We have taken note of what the French people told us."
He continued, "I continue to think that the euro is not technically viable but it makes no sense for us to keep insisting stubbornly. From now on our policy will be to renegotiate the EU treaties to give us more control over our budget and banking regulations."
In stark contrast to Le Pen's stance, new French President, Emmanuel Macron, is a strong supporter of a united Europe. During his election campaign Macron warned would-be-voters that if French capital, Paris and German counterpart, Berlin failed to bolster the currency union then the Euro may cease to exist within a decade.
Now elected, President Macron is beginning to put plans in place to boost the Franco-German relationship. A strong coalition between the EU's two biggest economies will boost the single currency. You can trade the Euro against all its major rivals using any of the brokers available on Spread Betting.
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