The first round of the 2017 French presidential election will be 23 April 2017. Should no candidate win a majority, a run-off election between the top two candidates will be on 7 May 2017.
As far as I know, Marine Le Pen is the only French candidate who has called for France to dump the euro.
To explain why this is important, we need a bit of background…
Many people mistakenly believe that all money in existence is created by banks as loans. When people get this error into their heads, they become unreachable, since they have found their “ultimate truth.” They become trapped in a bubble of their “brilliance.”
For the bubble-boobs, all government spending is actually government borrowing. They acknowledge that banks create loan money out of thin air by making ledger entries (i.e. by crediting accounts) but they refuse to acknowledge that monetarily sovereign (MS) governments do the same thing, and not as loans. MS governments, like banks, create their spending money out of thin air by making ledger entries (i.e. by crediting accounts).
What the bubble-boobs mistakenly think happens in the USA actually does happen in some of the euro-zone nations (i.e. those that use the euro). When those nations adopted the euro, they surrendered their monetary sovereignty to the bankers.
So let’s review all this again. Afterward I will return to Marine Le Pen…
There are three ways that money enters into an economy (any economy)…
 Government spending, in which a monetarily sovereign government creates its spending money out of thin air. This happens with the U.S. government, but it does not happen in euro-zone governments, since their politicians surrendered their monetary sovereignty to the bankers. Euro-zone governments cannot create their spending money out of thin air.
 Bank lending. Banks create loan money out of thin air, simply by crediting accounts. One of the purposes of austerity (i.e. reduced government spending on social programs that help average people) is to force average people to rely on bank loans, so that they become debt slaves.
 A foreign trade surplus. If your nation sells more goods and services to foreigners than it buys from foreigners, then your nation has money flowing in from foreigners.
When we plug this into the real world, we see that although the USA has the world’s biggest foreign trade deficit (by far) this is not a problem for the U.S. government, since the government creates dollars out of thin air, and since U.S. dollars are accepted worldwide. The only people who get hurt by the U.S. trade deficit are average workers whose jobs are sent overseas.
But what if your nation’s government is like a euro-nation’s government, and can no longer create its spending money out of thin air? In that case, your nation must get all its money from a foreign trade surplus. But what if your euro-zone nation has a foreign trade deficit? In that case your nation must borrow all its money from vampire bankers. Your nation’s debt load will keep climbing higher and higher, necessitating more and more austerity to pay the bankers. Your nation will become doomed to a debt-and-austerity death spiral that it can never escape from until it dumps the euro (or until it somehow develops a foreign trade surplus). Your politicians will be forced to impose more and more austerity on you, even if your politicians don’t want to. (But of course the politicians do want to, since politicians are on the bankers’ payroll.)
The purpose of austerity is to force the privatization of public goods, services, and assets, and to accelerate everything else that widens the gap between the rich and the rest.
The purpose of the euro is to make austerity mandatory and inescapable in euro-zone nations that have a foreign trade deficit.
If your euro-zone nation has a foreign trade surplus (like Germany), then its government does not need to borrow from the bankers, since euros flow in from abroad.
But if your euro-zone nation has a foreign trade deficit (like Greece) then you are screwed. All money in your nation must be borrowed from the bankers, who demand more and more blood as payment. The bankers create money out of thin air, and they lend it to your government. When you run out of blood to pay the bankers, the European Central Bank (ECB) in Frankfurt compensates the bankers. You remain in debt, but now you owe blood to the vampire ECB instead of the vampire bankers. The ECB then orders the European Commission to demand that your nation adopt more austerity and privatization (always more) to pay the ECB. Meanwhile the corporate media outlets pretend that the parties who got bailed out were not the vampire bankers, but their victims — i.e. YOU.
France and Greece have foreign trade deficits, and they both use the euro as their currency, which means that neither government can create its spending money out of thin air. Therefore both nations must borrow all their money. This is not accidental. It was all planned by the bankers.
France’s foreign trade deficit is seen below. Since France uses the euro, every minute that France stays in the red zone (trade deficit zone) while continuing to use the euro is another minute that France goes deeper into debt to the bankers.
Looking closer we see that during the last 12 months, France’s foreign trade deficit has averaged 2.28 billion euros per months for the last 12 months.
Since France uses the euro, the French government cannot create its spending money out of thin air. This means that during the last 12 months, France has gone an average of 2.28 billion euros further into debt to the bankers. Repeat: each month France’s debt load climbs higher by an average of 2.28 billion euros. (27.357billion euros / 12 months = 2.28 billion euros per month.)
This is disastrous, but the damage in France is not (yet) as obvious as is the damage in Greece, since the French economy is nine times larger than the Greek economy. But make no mistake, the economic hardship on average French people gets worse each day. Layoffs, privatization, unemployment, and the “reform” (i.e. destruction) of workers protection laws are all accelerating.
Now comes candidate Marine Le Penn who terrifies the bankers by saying she wants to dump the euro, and go back to using the French franc.
Is Marine Le Pen serious about dumping the euro? I don’t know, but at least she’s talking about it. Of course, if she tried it, the bankers would probably eliminate her. But one can dream.
Some people favor candidate Jean-Luc Melenchon, saying Melenchon is a true socialist. But if Melenchon became French President, then no matter how socialist and well-intentioned he may be, Melenchon would be absolutely forced to impose ever-more austerity and neoliberalism on France, because of the euro, combined with the French trade deficit.