French Candidate Le Pen is Softening Euro Exit Threat

May 1, 2017 Share Print 0

French presidential candidate Marine Le Pen is toning down her threat to quit the euro.

The abrupt shift comes ahead of a runoff election on Sunday between the far right candidate and Emmanuel Macron, an independent centrist backed by France’s establishment.

Le Pen campaigned on a promise to pull the world’s sixth largest economy out of the euro, and possibly even the European Union. She says that doing so would help France regain control over its own affairs.

But in a bid to calm worried voters, she now says that quickly ditching the common currency is “not a prerequisite” for her economic plans.

“The schedule will be adapted to the priorities … the French government will have to face. Everything will be done to organize a tranquil transition,” she wrote in a policy document released Friday.

via CNN

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.