euro europe le pen populism

“Have You Noticed Any Impact On Your Bank Accounts?” Le Pen Explains How She’s Not Going To Trigger A Bank Run

Well this one is fun. So here at HR, we've discussed at length the fact that should Marine Le Pen win the French presidency and then somehow manage to succeed in taking France out of the EMU, it would be a veritable disaster for financial markets. If we're going by OAT-bund spreads, that risk has dissipated of late, but the ISDA basis appears to tell a different story: Of course in addition to triggering the largest sovereign debt default in the history of the world and causing all kinds of trouble for the ~60% of French debt that's under domestic-law... (BofAML) ...a redenomination event would likely have disastrous implications for the savings of French citizens. Indeed, it's difficult to imagine that the introduction of a new franc wouldn't be met immediately with bank runs triggering the imposition of capital controls, which would only add to the panic (think Greece ca. 2015). More on that here. But for those concerned, Marine Le Pen has a message. Consider the following via Bloomberg: Le Pen Says Falling Currency Would Help More Than It Hurts The euro “is at the end of the road” and is likely to disappear, French nationalist candidate Marine Le Pen says on
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2 comments on ““Have You Noticed Any Impact On Your Bank Accounts?” Le Pen Explains How She’s Not Going To Trigger A Bank Run

  1. Pascale Siegel says:

    Dr. real Heisenberg,

    Would you please call her just Le Pen. She has been on a vast rebranding effort over the last 5 years, separating herself from her noxious father’s legacy (embodied in her last name) while presenting a gentler face to the public using her first name (Marine). Don’t help her. Call her what she truly is. Thank you!

  2. Curt Tyner% says:

    No problem just call her Fou LePen!

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