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Desperation Time

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Desperation Time

Le Pen's internal polls must be really bad. She has now announced that she is abandoning the centerpiece of her campaign, her plan to drop the euro. Presumably this also means she will abandon her promised Frexit referendum, since it's hard to see how a country remains in the Eurozone without being a member of the European Union. If she remains in the EU, she can not raise the tariff barriers with which she has promised to protect French jobs, and she cannot reclaim the budgetary sovereignty she claims has been ceded to Brussels. In short, nothing remains of her economic program. On this evening's televised news, she made this announcement comme si de rien n' était. "I promised to end the single currency, not the common currency." The ruse her is apparently that the euro will be retained for "international transactions," while the franc will be used for "everyday transactions." How one relates to the other she did not explain.

To make such a drastic change only a week before the final vote suggests panic in the Le Pen camp. Macron should be able to capitalize on her incoherence in the final debate. Let us hope.


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