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David Buik, BCG Capital Patners, on the upcoming French elections, and signs that Europeans are discontented with economic policy across the continen...
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-- -- thanks very much doesn't stop selling off around the world mostly on concerns over European dad David Buick.
The BGC partners joining us now from London to help break it all down David great to speak with -- but we've got a Dutch government has gone could put we have the -- of the era you like government Kozey.
Could be Obama at a closer -- Spain looming large what worries you the most David -- with regard to the -- -- I think the message gesture in a very good afternoon -- the message that comes from this French election.
Which is very much in the balance is the people in Europe on the whole -- looking to have.
Much more of a -- from a nationalistic point of view rather than -- the European Union line.
This is a really dangerous threat because we've seen it with Greece with the civil unrest in the street than we've seen it Madrid in Spain.
We know that if it is I'm happy with an option life in terms of the austerity cuts -- -- -- to -- And now this is really important from spruce from supposedly.
Belching from the same tune as Angela Merkel clearly don't know -- while Arnold.
Hell's -- better chance of freezing over them.
So you well that's a good question let mr.
Sarkozy has to appeal now to those fall right vote is over -- that remarkably.
Voted in large numbers -- Marine Le -- Omelet in -- socialist gets it missed the hall on what does that mean two fronts in the eurozone as a whole.
Well -- frankly will say that they've had enough for the word that the European Union is -- at the moment that they believe in growth.
Above all else that sacred -- it's the public sector -- Ashley you and I know everybody else knows the growth never came from the public sector.
So we're gonna see more borrowing we're gonna -- probably no growth -- will be nodding your credit.
And I think we'll -- absolute uproar in -- some it is the worst.
Possible outcome.
All serve London will be smiling like -- Cheshire cat can put whatever type of financial business there is will come halt food.
Away from Paris into London Villa host the almost certainly the transaction tax will be introduced that is something that we show -- We'll be in post it and thinking with chancellor Merkel right -- from that I can't -- single positive thing coming out of.
David here's the thing -- everybody knows they have no money.
So voting in a social list does nothing for then he could say all he wants on his election platform he and the money to -- -- Penetration.
The problem is most people don't know that there is probably not a more conservative country in the world the promise they hate change with a passion.
And then -- more change in the course of the last 25 years -- -- seen in the previous 500 -- since the podium.
So -- dream but for that perhaps the French revolution -- -- -- they didn't do change the culture credit.
That's what happens in Europe.
-- what happened in Europe in the last two years is just way beyond the -- from what they're really saying is anybody but -- David about thirty seconds -- move to Spain quickly mention austerity how the heck is Spain gonna get them.
From under its debt -- in through austerity measures.
-- -- The fact remains is to be fudged.
And all I can say is that I -- -- Spain has given something like five to ten years in order to show its borrowing requirement.
And have a bridge you really sensible shirts from repaying its debt you cannot do that with the level of all started April with pretty 3% unemployment.
And Aruba and those between sixteen and 2457.
Implement the math doesn't add up passionate.
It has always an absolute pleasure thank you so much David -- can be -- partner especially in --
