On May 6, France is holding its second round of Presidential elections, where the Socialist François Hollande is fully expected to win. I’m pretty sure two things will happen immediately following the election: The first is, Carla Bruni will leave Nicolas Sarkozy (because everyone knows that a professional courtesan never stays when the going gets tough for her patron).
The second thing that will happen following the election of Hollande is that the euro will begin to fall—amid persistent, insistent calls by the new French President for Europe to spend its way out of the hole it’s in.
In other words, France is about to elect their version of Paul Krugman to the Presidency. Read More
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