MS Risk Blog

FN Leader Le Pen Calls for France to Leave Euro but Remain Linked

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Last week, France’s far-right leader National Front (FN) Marine Le Pen outlined plans for France to leave the Euro should she win this year’s presidential election. However she proposed that Europe could return to a parallel Ecu-like common unit in a bid to soften the economic impact.

Ms Le Pen has vowed to pull France out of the euro for years however in remarks to Reuters news agency, she broadened her vision, suggesting that Europe could return to a basket of recognized national currencies, linked through a common currency system like the Ecu, which was used before the introduction of the single currency in 1999. Under this model, France could reintroduce a currency such as the franc, while maintaining economic relations with the eurozone.

Meanwhile a rival for the left-wing nomination, Arnaud Montebourg, has stated that he would impose a super-tax on banks to raise 5 billion euros (US $5.2 billion) if elected.

Polls currently indicate that conservative candidate Francois Fillon, who decisively won the centre-right nomination in the primary vote that was held in November, will likely face Ms Le Pen in the second round of voting.

French voters will elect a new president in April and May.