Monday morning, after the first round of the French Presidential elections.
Does Le Pen showing decrease the probability of Hollande success in Round 2, on May 6? The polls I have read seem to suggest yes, but only by a little. But let's try an if, then, else exercise.
If Hollande wins the Presidency, then he will dispute the Fiscal Compact and the German social democrats (SPD), will have political impetus to decide whether to defeat the ratification of the Fiscal Compact by Germany (since 2/3rds are needed in both houses of the German federal parliament).
If Hollande loses on May 6, Sarkozy is re-elected, then the Merkozy pair remains (almost, see eg Sarkozy's pre-election views on immigration as opposed to the German - Merkel's stance on the subject) and it is strictly up to the SPD, still trailing the CDU/CSU in the polls, to decide whether to bring down the Fiscal Compact and face the positive and negative effects of such decision in the German political arena and public opinion, else negotiate some growth spending in return for voting for the Fiscal Compact.
Is the Dutch situation, the inability of austerity and Fiscal Compact most "hardcore" supporter next to Merkozy, the current Dutch government, to meet fiscal objectives this year and next, an ace in the hands of the German SPD or the socio-political forces in the EU that are against the super austerity of the Fiscal Compact? Could be, especially if there is a new election that yields a new government that includes the Dutch Labour party (and D66).
EU27 politics are complicated, huh? Imagine if the EU had 50 states as the US does. But the US has political union, the EU?