Global capital markets breathed a collective sigh of relief on Sunday evening. Voters took to the polls in France in the first round of their presidential election, and the outcome was as predicted. Independents Emmanuel Macron and Marine Le Pen landed in the top two spots and will proceed into the second round of voting scheduled for just two weeks on Sunday, May 7, with Mr. Macron considered the overwhelming favorite to prevail. But while it appears that the status quo has been defended yet again for the European continent, the problem has not been solved with the outcome of this vote. In fact, regardless of Sunday’s vote or the final outcome on May 7, the rot only continues to worsen.
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