[Feature] The French election may affect the metal market
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- Time of issue:2012-04-30
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(Summary description)Editor's note: The first round of the French general election ended on April 22. The current presidents Nicolas Sarkozy and Hollande won the first round of voting in the French general election. On May 6, the second round of voting will be held in the French general election.
[Feature] The French election may affect the metal market
(Summary description)Editor's note: The first round of the French general election ended on April 22. The current presidents Nicolas Sarkozy and Hollande won the first round of voting in the French general election. On May 6, the second round of voting will be held in the French general election.
- Categories:Industry News
- Author:
- Origin:
- Time of issue:2012-04-30
- Views:0
Editor's note: The first round of the French general election ended on April 22. The current presidents Nicolas Sarkozy and Hollande won the first round of voting in the French general election. On May 6, the second round of voting will be held in the French general election.
French election system
According to the current French Constitution of the Fifth Republic, the French president is elected by universal suffrage and adopts the "majority two-round voting system". That is, if no one gets more than half of the votes in the first round of voting, a second round of voting is required. The voters who get the first and second votes in the first round elect one of the two candidates to be president. .
2012 French election schedule
The first round of voting for the 2012 French presidential election was held on April 22, and the second round of elections was held on May 6. If one of the two candidates entering the second round withdraws from the election, the other candidates will be replaced in the order of the number of votes received in the first round.
The first round of voting results
As of the early morning of the 23rd, according to preliminary statistics released by the French Ministry of the Interior, the opposition Socialist Party presidential candidate Hollande won the first round of the election, with 27.97% of the votes. Followed by the current President Nicolas Sarkozy, who won 26.86% of the votes. The far-right candidate of the National Front, Marine Le Pen, won nearly 20% of the votes. The left-wing candidate, Melanchon, got about 11%, and the centrist candidate, Beru, got about 9% of the vote.
Sarkozy Advocates
◆Tightening, tax increase
◆Reduce public expenditure
◆Increase fiscal revenue
◆Protectionism: Implement the "Purchase of European Commodities Act" with a tendency of protectionism in Europe
Hollande advocates
◆Call on the European Central Bank to cut interest rates and directly lend to the governments of Eurozone member countries to boost economic activity
◆Renegotiation of the EU“fiscal contract”, adding financial transaction tax and issuance of common bonds in the euro area
◆Promote the function of the European Central Bank to shift from controlling inflation alone to stimulating economic growth at the same time
◆Continue to expand public expenditure
The second round of voting focus
The two will use a completely different strategy to win over far-right voters, thus defeating each other in the second round of voting.
SMM after editing
The election may affect the metal market
Analysts believe that no matter who Sarkozy and Hollande are elected, the French election may not be good for the euro. Especially if Hollande is elected, the possible market turbulence will have a greater impact on the euro. Hollande's policy may cause friction between France and other major countries such as Germany, and the euro may fall briefly.
Some analysts also pointed out that Hollande’s policy is more radical, which may have a negative impact on French economic growth, which will put pressure on the euro. Most analysts expect that during the French election, the euro will maintain a volatile trend. This means that the metal market may also fluctuate due to political battles between French presidents.
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