EURO or FRANC? Elections in France.

EURO or FRANC? Elections in France.

24 March 2017, 10:47
Aleksei Kotlovanov

Elections in France is an opposition of two absolutely different economic perspectives with great consequences. Marine Le Pen and Emmanuel Macron are the leading candidates for presidency have submitted their programs. 

Marine Le Pen is the leader of National Front favours the freedom from Euro and job protection. On the other hand Emmanuel Macron, ex-minister of economic affairs and banker, favours open boarders and deep European integration. 

Marine Le Pen wants to start the referendum about the membership of France in European Union. She proposes the freedom from euro and cut over to a new currency “new French franc” with lower value to boost the marketability of the French export. National debt will be converted to the new currency - what means default by commitments. During debates she was blamed by opponents in creating motivations for economical crisis. Her position is to give more attention to French companies when distributing government contracts and it is necessary to protect the work spaces in France. In her opinion the products produced by French companies outside of France will be charged by special import taxes. Marine Le Pen is against free trade agreement (FTA) and stands for “rational protection” policy. In her opinion the taxes for most poor segment and make a new tax for companies who hire immigrants. Marine Le Pen is sure that independence of France and currency devaluation will give a great boost to the country. She promises to perform a “reindustrialisation” to support French business and increase the level of cooperation with the country. 

Emmanuel Macron favours the free-current trading and Canada-European Union Comprehensive Economic and Trade Agreement (CETA). Also he thinks that it is important to keep the high European standards of security, social life and environment. Macron is against borderlines in European Union and wishes more integration in trading bloc. He wants to cut the profit taxes of corporate organisations from 33% to 25%. Also he wants to cut the local property taxes for most of the citizens and reform the wealth tax. He promises to cut down the state expenses by 60 billion euro a year and decrease the amount of state officials by 120 thousand people. He also thinks about changing the 35-hour working week. Macron is ready to spend 50 billion euro during 5 years for education, energetics, environment, transportation, healthcare and agriculture. 

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