Monday, April 23, 2012
Elections and Austerity - voter push-back
Sunday's first round of the French presidential election was a clear rebuke to France's Nicolas Sarkozy, but it is also worrying for EU officials that the far right National Front (FN) candidate, Marine Le Pen received the highest percentage of the vote ever for an FN candidate (18%) - a protest vote against EU policies? Along with elections coming up in Greece, and today's resignation of the government of Mark Rutte in the Netherlands (which will precipitate new elections), the EU's fiscal pact could be put in jeopardy. This will also have an impact on the growing debate between growth and austerity. I expect election campaigns in all three countries to focus on the growth vs. austerity issue, as well as immigration, assimilation, and Muslims in Europe.
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