This is a restricted workshop on the forthcoming French elections to understand the challenges and possible scenarios.
French elections are fast approaching and the debate on euro membership is now in full swing. ‘Frexit’ supporters promise that the benefits of leaving the euro would be substantial for the French economy, that economic policy would be greatly improved, and most importantly that the exit process would be a piece of cake. This blog post shows that these claims are greatly exaggerated if not outright lies.
On the 28th of November the European Commission released its opinions on the euro area Member States’ Draft Budgetary Plans for 2015. The purpose of these opinions is to assess each country’s compliance with the Stability and Growth Pact (SGP), and to recommend appropriate action if there are risks of non-compliance. One of the surprises was that, in the case of Italy and France (as well as Belgium), the Commission decided to postpone its recommendations until March 2015.
Irrespective of the economics, the factual observation remains unambiguous. French-headquartered companies are well represented among the population of global business giants, and increasingly so. France may have ninety-nine problems, but an extinction of corporate champions is not one of them.