Today is the last possible day for campaigning for candidates running for the french presidency. The day before the election it’s not allowed to campaign in France that will go to vote on Sunday. And Sarkozy will need to campaign tirelessly if he wants to e re-elected as the new president. Latest polls shows a loss for Sarkozy, which will mean he will be the first one-term French president since 1981. At the same time rumors are spreading that France will meet a downgrade of their sovereign-rating. Looking at one of Sarkozy’s allies, the German chancellor Angela Merkel, there is also a lot at stake for her in the first round of the French presidential election on Sunday, which we wrote about yesterday here at BeyondBrussels.com, but the topic is also covered in the German newsmagazine Der Spiegel.
While the French economy might face a downgrade there are somewhat bigger troubles in the Portuguese economy. As the Financial Times Brussels bureau chief, Peter Spiegel, writes, Portugal is probably going to need a second bailout package. And with that in mind, in sounds rather likely, when the International Monetary Fund, Christine Lagarde, yesterday warned of “dark clouds” hanging over the global recovery, with the eurozone in the center of the coming storm. While the French president Nicolas Sarkozy in his campaign has called for the European Central Bank to have an even more active role in the coming growth agenda (which the danish economy minister denies), an ECB chief economist yesterday said, that the eurozone economies must remedy the underlying problems driving the debt crisis rather than relying on the ECB.
Germany and France have begun moves to reclaim powers to close their borders for up to 30 days in a simmering battle over immigration pressure in Europe’s passport-free Schengen travel zone. This is seen a letter sent to the danish presidency of the Council of the European Union and seen by the AFP.
Ireland will hold a referendum on the new fiscal pact treaty signed on the summit in the beginning of March. The referendum will be held at May 31, and a campaign for voting yes to the treaty has been launched by the Irish prime minister, Enda Kenny, and he is rather confident that the Irish people will say yes to the treaty, despite the fact that around 39 percent of the Irish people haven’t made up their mind yet. Government leaders in Slovenia do not need to have this kind of worries. Yesterday the Parliament overwhelmingly ratified the fiscal pact treaty as the third country.
Finally new rumors of some kind of a super-president of the EU are spreading. This will be a president with further powers than Herman Van Rompuy and Cathering Ashton, but also a more democratic way to the power. The idea is that this president should be elected by the EU Parliament.