Austrian chancellor says Le Pen victory bad for Europe’s economy

Marine Le Pen, president of the French far-right party and presidential candidate for the 2017 French presidential elections, tries a pair of glasses during her visit of the 5th edition of the "Made In France" fair, on Nov. 18, 2016 in Paris. (AFP)

VIENNA, Austria: A French presidential victory by far-right candidate Marine le Pen would badly damage Europe’s economy, Austria’s Social Democrat Chancellor Christian Kern said in an interview published on Sunday.
While Le Pen will likely meet a center-right rival in a run-off vote next year, Austria will elect its own president on Dec. 4, choosing between a former leader of the Greens Party and a far-right candidate in a tightly balanced contest.
“If right wing demagogues take over a key state in the European Union, we have a big problem. One cannot overestimate the economic damage someone like Le Pen can cause,” Kern said in an interview with Austrian newspaper Kurier.
“For us it would mean an enormous loss of wealth. Europe, Austria would become poorer.”
Far-right presidential candidate Norbert Hofer faces Alexander Van der Bellen in Austria’s vote next month.
Hofer lost a run-off in May by a mere 31,000 votes against Van der Bellen but got a new chance when the constitutional court annulled the result due to counting irregularities.

(Reporting by Shadia Nasralla)