Another Twist in the French Election Tale?

French presidential candidate Francois Fillon’s woes deepened as a stream of elected officials from his party disowned his campaign and police searched his Paris home on Thursday.

More than 60 politicians said they could no longer support a candidate facing charges for the alleged embezzlement of public funds. The string of departures, including Fillon’s campaign treasurer Gilles Boyer and senior adviser Bruno Le Maire, was followed by an open letter by 20 politicians urging him to withdraw.

Alain Juppe, another former prime minister who was defeated by Fillon in the Republican primary, is telling friends he is ready to come back if necessary, Le Parisien reported Friday. The resignations came as independent candidate Emmanuel Macron unveiled details of his election platform and the National Front’s Marine Le Pen intensified her anti-euro rhetoric, saying in a speech in Paris that the “question is not if we’ll leave the euro, but when and how.”

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.