ECB official warns against Le Pen’s Frexit

After French National Front leader Marine Le Pen officially launched her Presidential bid and made reverse-globalization via French exit from the Eurozone and stopping immigration as her top agendas, a senior official at the European Central Bank (ECB) warned against Frexit (French exit). Benoît Cœuré, an executive board member at the European Central Bank (ECB) warned that a choice of Frexit would be a choice of impoverishment, which would threaten jobs and savings of the French people. He added that the debt incurred by French businesses and households would increase and inflation which will move beyond the control of the European Central Bank (ECB) would eat into the savings. All in all, leaving the euro would mean taking risks with unpredictable consequences.

However, these warnings might get shrugged off by those favoring an exit as they have the example of Brexit ahead of them. Institution and officials had similarly warned against Brexit and its fallouts but the British economy has been performing particularly well since the referendum.