Economic Report Dutch version
The first round election outcome is in line with expectations. Markets sigh in relief. Emmanuel Macron is now favourite to become the next French president. In the medium term risk of political gridlock is significant.
British Prime Minister Theresa May has called for snap elections to be held on 8 June. A victory for Ms. May seems likely at the moment, which would strengthen her Brexit mandate domestically, and her negotiation position with the EU.
Brexit has officially started since British Prime Minister Theresa May invoked Article 50 of the Treaty of Lisbon. The negotiations will be complex, difficult and time consuming and we foresee various roadblocks in the Brexit process.
Economic Update Dutch version
First signs of economic growth this year are positive and government finances are showing further improvement. At the same time, there are still issues regarding the labour market. Elderly workers still find it more difficult to find a job than younger workers.
The French elections are no done deal; while Macron seems to be ahead, Le Pen has a chance to win the presidency. All candidates have varying economic proposals to make France great again. Taking France out of the EU will be difficult for Le Pen.