France is the second largest economy in the Eurozone and has been the number one ally with the Germans in dictating terms of austerity to other debt-choked EU members. This weekend, the two part French elections appear to be setting up for a rejection of Sarkozy and potentially the fiscal pact with Germany. If the french reject planned austerity to garner further loans, there is ever more reason for the club-med countries to do so also. Political risks in the EU are clearly rising. Here is the direct video link.
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