Oh, this does not bode well. France and Greece both elected people with strong socialist leanings, who (quite explicitly) advocate solving their fiscal problems by taxing the rich. That isn't going to work, as any rational analysis will show. But that didn't stop the entitlement-sotted voters of either country.
That's bad for France and Greece. Unfortunately, the effects of their low voter IQ won't stay within their borders – our markets are poised to open lower on the news, the trade impacts will be keenly felt, and – worst of all – the probability of sovereign debt default just jumped dramatically higher...
These are the sorts of things that happened in the runup to past European wars. Let us hope that's not the case this time...
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