If Macron defies Britain about the banks, Paris and London to clash over ‘La Manche’

Emmanuel Macron addressing the European Parliament on the occasion of the International Day for the Eradication of Poverty. 19/10/2016. © European Union 2016 – Source : European Parliament, Brussels.

None of the two winners of yesterday’s first round in the French Presidential election, the pro EU banker Emmanuel Macron (23.9%) and the anti-EU and xenophobic Marine Le Pen (21.4%) is to make things easier for their country. However, the same is true for the British PM Theresa May. The latter’s decision to call an early election for 8 June in order to support a hard Brexit, negatively surprised the entire European Continent and the world. Only days before she had absolutely excluded such an eventuality.

The sure victory of the stout European Macron on the night of 7 May, though, can pose grave problems for Brexit, because he surely will protect the interests of the financial sector. May’s government is at odds and has practically no contact with the global banking community stationed in London. Let’s dig a bit deeper into the repercussions of the highly probable Macron – May confrontation, over the role of the financial sector in the real economy.

May’s decision to call an early election is an infallible sign of the grave problems her Brexiteer government faces, in complotting a wild divorce with the European Union, totally ignoring the interests of the London City. There is no doubt, also, that May’s Brexit is intended to hurt the EU as much as possible, paying no attention to the costs to her own country. This is a political typhlosis comparable only to the declaration of WWI in the summer of 1914. Or even a terrible way to control the inevitable and possibly violent disillusionment of the English low and middle classes who voted ‘leave’, believing the Brexiteers’ lies. The problem is how Macron plans to confront May’s intransigence.

Macron, the banking man

The man to be the next French President has repeatedly stated that France wouldn’t make things easy for Britain, if London vies for a hard Brexit. Given that whoever wins the next September German election, Berlin won’t drastically change its mark on the Continent, the developments in France and Britain will drastically reshape the future of Europe, as it will be intertwined by the London – Paris confrontation. No doubt the entire European continent will not be the same after this summer. Let’s go to the city of light.

Despite his promises, Macron won’t be a real comfort for his compatriots. His vague policy proposals leave room for everything. And his driving ideal for a “democratic revolution” to “unblock France” may lead anywhere. He will be the first resident of the Élysée Palace in the turbulent history of the Hexagon, to govern it without a political party. Or has he a hidden one? Not to forget, that his last real and lavishly rewarded job was with the renowned Rothschild & Cie Banque.

Jet propulsion

As everybody in the banking industry knows the huge Rothschild financial group is a key global player, with strong relations with the Western political establishment. It also pays a lot of attention to its employees’ potential in other walks of life. So, Macron won’t be alone in governing France. His jet propulsion to prominence and the full support he enjoys in the economic establishment and media world are good indicators of who will be his aides in governing La France. But this will be finally decided during the next fifteen days and on 7 May night. In the mean time, we can return to Britain.

The 51.9% majority in the 23 June 2026 referendum is far from being a landslide victory for the Brexiteers camp. So they now think they need something more in order to accomplish their outrageous plans for a wild separation with the EU. If they won’t be able to realize their dangerous plan and instead settle for an amicable Brexit, they would be accountable to their betrayed followers who voted ‘leave’, having believed the lies that Britain will triumph outside the EU. They might even be legally challenged for having consciously misled the British people.

Hard Brexit hurts all bankers

There is no doubt that London’s powerful and immensely wealthy financial community is to pay the dearest price from a hard Brexit. It’s then quite logical to assume that May’s early election decision was the only way out from the unbearable pressures exerted on her, from the City sharks who demand an amicable separation with the EU. Obviously, the London bankers want to retain their ‘passport’ to do business in mainland Europe. Such a prospect is now clearly impossible though, if the British government vies for a hostile divorce or a Brexit with no agreement at all.

Yet again, even if May’s conservatives win one hundred more deputies in the House of Commons, as some pollsters currently predict, the hard Brexit option won’t be easier to impose on Scotland and Northern Ireland. Both those Peoples have clearly stated their purpose to somehow not follow England and Wales in such a solitary and dangerous path. But let’s return to France.

Brussels mocks May

The result of the 7 May second round of the Presidential election will not make it any easier for May. Her own electoral rhetoric for a hard Brexit will surely be met with hostility in mainland Europe. Arguably, an unfriendly Franco- German block won’t help May increase her credibility in the British voters. Donald Tusk, the President of the European Council, who expresses the mainstream views of the 27 EU leaders, mocked May’s early election call. He said that this surprise turn could only have been staged by the famous for his flabbergast scenarios, the late Alfred Hitchcock the ‘Master of Suspense’.

On top of that, it is rather certain that in fifteen days time Emmanuel Macron, well known for his connection with the banking industry, will be President of France, things will be more difficult for May. She has practically no relations or contacts whatsoever with the colossal banking and finance hub of the London City.

On the other side of the fence, Macron will do his best to help the European bankers, including of course his own country’s giants like BNP Paribas, Société Générale and Crédit Agricole. He may then press hard the British Brexiteers to pay good attention to the interests of the western banking giants stationed in London. Or, at least, Macron will try to make sure that May’s government will look after the affairs of the banks in the eventuality of a wild Brexit.

Franco-British banking war?

Undoubtedly, Macron and May are on opposite sides of the spectrum as far as the world of banking is concerned. The Frenchman is a ‘child’ of the financial space, while the British PM has a political mandate from people who are left behind, neglected or even harmed by the globalized economic universe of our times. It remains to be seen, if the banks will become the cause and the epicenter of a great clash between the English ‘populist’ and the French ‘mainstreamer’.

the sting Milestones

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

The EU Parliament slams Commission on economic governance

Antitrust: Commission sends Statement of Objections to O2 CZ, CETIN and T-Mobile CZ for their network sharing agreement

Take Care of In Order to Be Taken Care of

3 reasons why embracing the circular economy can be powerful for middle income countries

6 innovative technologies about to transform our infrastructure

Why growth is now a one way road for Eurozone

Female leaders warn about the erosion of women’s rights

Statement by Frans Timmermans, Executive Vice-President for the European Green Deal, on the announcement to postpone the COP26

Halt death sentences on children, UN rights expert urge Saudi authorities

This is how Britain saved some of its most precious wildlife from the threat of extinction

How to put people at the heart of your company’s COVID-19 response

‘Whole spectrum of Afghan society’ must get behind peace talks, UN envoy tells Security Council

EU regions get additional 47.5 billion EUR to tackle local effects of COVID-19

These artists created a huge open library – and their idea’s gone global

Commission refers Denmark to the Court for failing to fulfil its obligations in relation to the name “Feta”

Mine action is at ‘the nexus’ of peace, security and development: UN official

WEF Davos 2016 LIVE: The health of capitalism won’t be the only worry for those who head for Davos

China’s stock markets show recovery signs while EU is closely watching in anticipation of the €10bn investment

Does the Commission subsidise a forced labour scheme in Britain?

One for all? Are physicians prepared to deliver care to the LGBTQIA+ community?

UN chief lauds Fijians as ‘natural global leaders’ on climate, environment, hails ‘symbiotic relationship’ with land and sea

How start-ups will lead India through the Fourth Industrial Revolution

This one small change could transform education for millions

Why rich countries are seeing more poverty

World Wildlife Day: UN chief urges ‘more caring’ relationship with nature

EU approves close to €240 million to strengthen resilience in neighbouring countries hosting Syrian refugees in light of the coronavirus pandemic

Third Facebook-Cambridge Analytica hearing: data breach prevention and cures

De-escalate now, to steer Yemen off ‘precarious path’, UN Security Council hears

Brexit: Six more months of political paralysis or a May-Corbyn compromise?

Golden Pen of Freedom Awarded to Murdered Saudi Journalist Jamal Khashoggi during World News Media Congress 2019

Questions and Answers on the EU Digital Covid Certificate

The fires in the Brazilian amazon rainforest may be related to the increase in the number of hospitalizations for respiratory complications in the state of PARÁ

Why does the whole world want Britain to stay in the EU?

EU citizens disenchanted with Economic and Monetary Union over rising poverty and high unemployment

Your next pair of sneakers could be made from coffee

Mental health in times of a pandemic: what can each individual do to lessen the burden?

Migration crisis: how big a security threat it is?

Reducing deforestation means getting serious about environmental crime

Security Council should ‘nurture’ Colombian consensus against return to violence, top UN official urges

This is the most sustainable way to use fashion – and it’s not renting clothes

Collaboration: the key to success in the digital economy

Lessons in disaster relief from the world’s most cyclone-battered state

Happy workers are more productive, research shows

Women to save Europe’s own labour resources

Food system failures in our age of abundance

Tuesday’s Daily Brief: Libya civil war, African displacement, global trade tensions, terrorists’ children ‘secretly detained’, and more

Trade, taxes and other takeaways from Li Keqiang’s speech to the World Economic Forum

The European Sting @ European Business Summit 2014 – the preview

UNICEF urges ‘transformative shift’ in family-friendly work policies to reap ‘huge’ benefits

Ecofin: ‘The Friday battle’ for the banking union

Boosting the EU’s green recovery: Commission invests €1 billion in innovative clean technology projects

Guarantee of mental health’s stability in times of pandemic

Mobile technology: health in your hands

Digital Finance Package: Commission sets out new, ambitious approach to encourage responsible innovation to benefit consumers and businesses

Parliament demands ban on neo-fascist and neo-Nazi groups in the EU

The new era of Matriarchy?

The role companies play in boosting growth in emerging markets

A Sting Exclusive: “Our ambition is by 2020 Indonesia to become an emerging power of World’s Maritime Access”, reveals the Chargé d’Affaires at the Embassy of Indonesia in Brussels, treating WEF, ASEAN and EU-Indonesia relations on the eve of the World Economic Forum East Asia 2015 in Jakarta

Want a sustainable business? Hire in talent

Sustainable development demands a broader vision, says new OECD Development Centre report

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s