The euro survives its biggest political test

Source: CNN

France has chosen the independent centrist Emmanuel Macron to be its next president, ending a tumultuous campaign that had undermined the euro and raised real doubts over its continued survival. Macron captured an estimated 65% of the vote on Sunday, easily defeating the far right populist Marine Le Pen, who had campaigned on pulling France out of the euro, and perhaps even the European Union. The euro has been under threat from rising populism in Europe, where it remains the most visible symbol of the region’s long experiment with economic integration since the end of World War II. Nationalist and populist parties, emboldened by Britain’s decision last year to leave the EU, have made the case against the currency in the Netherlands, France, Italy and Greece, among others.

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