14 October 2016

Bloomberg: Brexit to Erupt in French Race With Juppe Demanding Hard Line

The British officials preparing to negotiate their exit from the European Union should be paying particularly close attention as the French election campaign shifts up a gear on Thursday.

The candidates for the Republican party’s presidential nomination are preparing to set out their visions of Europe’s future on Thursday night during the first debate of the primary campaign, and the two leading contenders have very different views on how to handle Brexit. [...]

France’s main right-of-center party will choose its candidate for next year’s presidential election over two rounds on Nov. 20 and 27. Juppe maintained a comfortable lead in a Kantar Sofres poll published in Le Figaro Oct. 9 which showed he’d take the most votes in the first ballot and then beat Sarkozy by more than 10 percentage points in the runoff.

All seven candidates in the Republican race agree with Socialist President Francois Hollande that U.K. companies and London-based banks can’t have access to the EU single market without allowing freedom of movement for European workers. And both Juppe and Sarkozy insist the U.K. can’t keep the clearing houses for euro-denominated transactions and the European Banking Authority will have to shift its headquarters from London unless May drops her insistence on immigration curbs. Beyond that, the two main contenders have very different attitudes.

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