The French election is being hailed as a victory for the EU, but that will be determined by France’s future fiscal policy.

Yesterday Emmanuel Macron handily defeated Marine Le Pen by a margin of 66.1 to 33.9 percent in the second and final round of balloting in the French presidential election . The race was to decide the successor to Francois Hollande who did not seek re-election.The former economy minister in Hollande’s first government and previously an investment banker, Macron is only 39 years old and will be the youngest French head of state since Napoleon. His victory over the populist/nationalist Le Pen, sometimes referred to as the French Trump, is being hailed across Europe among supporters of the EU. Macron is desc...