Next comes the French election with the first round in late April and the final run-off in early May. European equities investors will be hoping the Front National’s rising momentum does not propel them to an unlikely victory, which would result in protectionism and an immigration clampdown, putting the nation in conflict with much of the EU.
Arguably even more significant is the German election which has to take place on a Sunday between 27 August and 22 October. Chancellor Angela Merkel’s government is facing serious opposition over its handling of the ongoing migration crisis hitting Germany and other EU countries, and all bets are off as to what the political status quo that emerges from the election will be.
So it’s goodbye to election and referendum fatigue. For about three weeks.
