With Marine le Pen transforming her National Front (NF) into a party for the populist era, analysts have been carefully assessing how French elections in May could deal a “severe blow” to the European Union (EU).
“It’s difficult to imagine how the European Union could function should such a Euroskeptic (as Le Pen) be at the helm of one if its major economies … It would likely precede its fracturing,” Michael Hessel, political economist at Absolute Strategy Research, told CNBC via telephone.
He said that that low voter turnout would be Le Pen’s best hope of securing an unlikely election victory. He projected Le Pen had up to a one-in-five chance of becoming French president in May.
Le Pen has promised to renegotiate the terms of France’s membership of the European Union if elected president in May. However, her chances of victory appear to be limited. Opinion polls suggest Le Pen would be defeated by the former conservative prime minister and her most likely political rival, Francois Fillon, in the second and final round of voting.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.