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Economists: Le Pen Victory Would Lead To "Massive Sovereign Default"...

• http://www.prisonplanet.com, Zero Hedge

With two months left until the French election, analysts and political experts find themselves in a quandary: on one hand, political polls show that while National Front's Marine Le Pen will likely win the first round, she is virtually assured a loss in the runoff round against either Fillon, or more recently Macron, having between 20 and 30% of the vote; on the other, all those same analysts and political experts were dead wrong with their forecasts about both Brexit and Trump, and are desperate to avoid a trifecta as being wrong 3 out of 3 just may be result in losing one's job.

Meanwhile, markets are taking Le Pen's rise in the polls in stride, and French spreads over Germany are moving in lockstep with Le Pen's rising odds. In fact, as noted earlier in the week, French debt is now the riskiest it has been relative to German in four years.


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