SIR – In the country that demonstrated how to deal with abuses of democracy in 1789, an interesting Presidential election may well result in an effective ‘rolling back’ of those momentous events.

In the first round of the French election, Sarkozy had the ignominy of being beaten into second place by the socialist Hollande.

Within hours, the financial markets reacted to the prospect of a Socialist president with a blatant scare campaign, clearly designed to frighten the French electorate into voting for a candidate that will lie down for their plans for not only the French economy, but also the European and, indeed, global economies.

One does not need to be of the political left to be alarmed at this latest in a whole string of anti-democracy manoeuvres by the financial sector Europe watchers will recall that it was not so long ago that the Greek Prime Minister decided to hold a referendum on the austerity cuts being planned for the Greek economy. He was gone overnight – and replaced by an apolitical bean-counter as Prime Minister, on the specific direction of anonymous financiers.

This is an election we should all watch very closely.

Christopher Hindle, Osterley Grove, Bradford