Monday, April 23, 2012

French Elections

The Lehmann Letter (SM)

The stock market is down this morning on renewed fears regarding Europe. There will be a runoff in the French presidential elections and the incumbent did not lead. Will his challenger, if he wins, be as resolute in defense of the euro? Investors appear to have their doubts.

This letter has always been optimistic that Europe will muddle through, just as it has done over the past 65 years. Too much is at stake and too much history points to the road forward. This gives hope that France will take no detours and will refuse to endanger the goal of an increasingly united Europe.

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© 2012 Michael B. Lehmann

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