the country, such as high unemployment and anemic growth. What it would mean, however, the implementation of such a project for the strong dependent on imports and heavily indebted country, is not clear.
The most fervent proponent of the so-called Frexit is the president of the far-right National Front Marine le pen, which is provided on the basis of surveys to conquer the first place in the first electoral round, eventually losing in all probability in the crucial second round of the presidential election.
On the other side of the political spectrum, the head of the Left-wing Jean-Luc Μαλανσόν shall also be drawn up in euro-sceptic line, however, suggests at least a renegotiation of the european treaties. If this can not work, then it suggests exit from the euro area.
The rest of the major candidates -the socialist Benoit Amon, the republican Francois Fillon and former finance minister and an independent candidate, Emmanuelle Long – expressed clearly in favour of the common currency in a more or less closely connected Europe.
A key argument of le pen in favour of Frexit is the recovery of the national sovereignty of the country. Which restoring and understating the national currency would make it automatically more competitive French products, making them more accessible abroad.
The reduction of wages would not be the only option for an equal presence of France on the international markets, supports the le pen. Also, as argued, without the dictates of Brussels, the country had more freedoms in the field of the state deficit and was thus in a position to do more to help the domestic industry with subsidies.
The French exports would be actually quite cheaper in the event of exit from the euro, estimates at the DW the If-Lor Îτελάτ, deputy director of the research Institute for the world economy in FACT, due to the weaker national currency.
However, the weaker currency would imply at the same time and more expensive imports. France did last year imports exceeded in value by 48,1 billion. euro, the corresponding value of exports. The country introduced a lot of basic foodstuffs, and oil, gas, and garments.
“If the French currency υποτιμάτο so, affected mainly the poorest layers of the population and the small and medium-sized enterprises, i.e. precisely those to whom the eurosceptic candidates”, stresses the DW Olivier ΠαστÏÎ, an economist at the University of Paris VIII.
The borrowing rates of France would increase, given that the country would be called with a weaker national currency to settle the exorbitant state debt, which for the most part would remain in euro. The repayment of the debt, that is now exceeding 2 trillion. euro touching 100% of GDP, would require overexertion, batch convert French francs to euro and possibly borrowing of the state from its citizens.
Otherwise, could the France to print money if it has monetary independence. This would be damaging, but again mostly the weakest, due to the πιθανότατης rising inflation and therefore the increase of prices on products and services.
In the view of Philippe ΚÏεβÎλ, professor of Macroeconomics and head of the research group Cercle de l’ Etude, the aforesaid effects would not be the only ones who would have the Frexit. As estimates in the DW, the exit of France from the euro would cause absolute economic destruction in the country. And, by extension, in the EU, which could not survive without the second power budget of the link, he says, and gloss in a warning tone: “it Would be a systemic shock that would lead to total anarchy in the financial world of Europe. After that nothing was the same”.
What will happen if France left the euro
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