{"id":3352,"date":"2017-05-03T03:53:01","date_gmt":"2017-05-03T03:53:01","guid":{"rendered":"http:\/\/arabicfxadvisors.com\/english\/?p=3352"},"modified":"2017-05-03T03:53:01","modified_gmt":"2017-05-03T03:53:01","slug":"marine-le-pen-says-french-people-will-francs-pocket-instead-euros-within-two-years-2-may-2017","status":"publish","type":"post","link":"https:\/\/arabicfxadvisors.com\/english\/marine-le-pen-says-french-people-will-francs-pocket-instead-euros-within-two-years-2-may-2017\/","title":{"rendered":"Marine Le Pen says French people will have francs in their pocket instead of euros within two years – 2 May, 2017"},"content":{"rendered":"

French presidential candidate\u00a0Marine Le Pen\u00a0has said\u00a0her countrymen\u00a0will be carrying francs instead of euros<\/span><\/span> in their pockets within two years.<\/p>\n

Reconfirming her promise to revert to France’s former currency is she beats centrist\u00a0candidate\u00a0Emmanuel Macron\u00a0in the final round of voting on Sunday,she said she wanted to see Europe’s single currency replaced by another, looser type of cooperation.<\/p>\n

This could take the form of the European Currency Union’s basket\u00a0of currencies that preceded the\u00a0euro before it was introduced.<\/p>\n

Ms Le Pen, a renowned Eurosceptic\u00a0who has temporarily stepped down as the leader of far-right party the Front National\u00a0said that could\u00a0exist alongside a national currency.<\/p>\n

“The objective is to transform the euro ‘single currency’ into a euro ‘common currency’, going back to the ancestor of the euro, the ECU, which was an accounting unit that did not stop each country from having each its own currency”, she said.<\/p>\n

She added that\u00a0the euro was a deadweight on the French economy, which is the third largest in the EU behind Germany and the UK, and a new national currency would better protect French people’s savings.<\/p>\n

She claimed the “establishment” wants to “frighten” voters into thinking otherwise but denied that\u00a0French negotiations to leave the single currency would lead to a banking crisis.<\/p>\n

But she refused to rule out imposing capital controls, placing limits on how much people can withdraw from their bank accounts each day, if there was a run on the banks.<\/p>\n

“If there’s a run on banks, we could very well imagine such a solution for a few days, but I’m telling you it won’t happen”, she said.<\/p>\n

Many of the richer, northern countries in the eurozone have become increasingly resentful about having to bail out their poor southern neighbours such as Greece.<\/p>\n

The Greek, Irish, Spanish and Portuguese governments\u00a0were forced to accept huge loans in exchange for harsh austerity measures when they suffered from\u00a0financial crises\u00a0in 2010.<\/p>\n

Although Spain, Portugal and Ireland have largely recovered, Greece is still struggling to pay its debts and has had to go back to the European Central Bank, Eurogroup and the International Monetary Fund for debt relief and further loans on several different occasions.<\/p>\n

A poll conducted just before the UK’s EU referendum\u00a0last year found more than 60 per cent of French voters now had an unfavourable view of the union as a whole \u2013 more so than any of of the other EU countries bar Greece.<\/p>\n

During the campaign,\u00a0Ms Le Pen has played up a call for French sovereignty and the return of its national identity.<\/p>\n

She has attacked Brussels for trying to force its laws on the French people,\u00a0has called for an immediate suspension on all immigration and vowed to fight against the perceived rise of Islamist extremism within civil society.<\/p>\n

Source: Independent<\/p>\n","protected":false},"excerpt":{"rendered":"

French presidential candidate\u00a0Marine Le Pen\u00a0has said\u00a0her countrymen\u00a0will be carrying francs instead of euros in their…<\/p>\n","protected":false},"author":2,"featured_media":1431,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[373],"tags":[],"class_list":["post-3352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news"],"jetpack_publicize_connections":[],"yoast_head":"\nMarine Le Pen says French people will have francs in their pocket instead of euros within two years - 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