The betting odds for an anti-euro candidate winning the French election are eerily similar to Brexit
The election has markets on edge as two of the candidates, Le Pen and Melenchon, have campaigned on euro-skeptic platforms.
Le Pen, the leader of the far-right National Front party has said she would ask European leaders and the European Central Bank to replace the euro with a basket of new national currencies, in effect breaking up the single currency."The euro is not a currency," Le Pen said in February . "It is a political weapon to force countries to implement the policies decided by the [European Union] and keep them on a leash.
Melenchon, a far-left candidate, has been a little less abrasive. In his manifesto, he wrote he would " devalue the euro to its initial exchange rate against the dollar " if he were elected to office. He has since said that the recent drop in the euro-dollar exchange rate has it trading at an "acceptable" level.
In a somewhat eerie coincidence, the betting odds of either euro-skeptic candidate winning the presidency closely mirror those of the UK voting in favor of Brexit.
We all know how that turned out...