The eurozone has dodged the populist threat that put political and financial stability at risk, says Lionel Laurent on Bloomberg. When it became clear that Emmanuel Macron had narrowly prevailed over the far-right National Front’s Marine Le Pen in the first round of the presidential election, markets surged. The French blue-chip index CAC-40 had its best day since 2012, climbing by 4.1%.
A gauge of global stocks reached a new record high, while the euro soared by 2.33% against the dollar to a six-month peak. The polls proved right for once, banishing fears [...]