Two of the leading candidates Le Pen and Macron have reached the second round of French elections. Macro attained 23.7% votes, and Le Pen got 21.5% votes.
The Change Brought by French Elections
Around 97% of the polling stations declared Macron as taking the lead in the French elections. The results selected two candidates who do not belong to the French establishment.
Macron is a former investment banker who stood in elections for the first time in his life. He is now one of the most favorite candidates to become the next French President.
The second in place candidate Le Pen spent years trying to get rid of the Front National of his father’s infamous legacy.
Le Pen said that she was the candidate of the people and she wanted the French people to get rid of the elites.
Market’s Reaction to French Elections
The French elections with Macron as frontrunner had a positive impact. The Euro became the strongest against the USD since November last year. Similarly, futures and stock markets also traded in the positive territory.
Nationalist Politics Everywhere
The result mirrors the same kind of results seen in the US and the UK politics. In the US, the voters rejected Hillary Clinton to select a more hardline US Presidential candidate Donald Trump who put America first. Similarly, in the UK, British people wanted someone who would British interests above everything else. The overwhelming support of Theresa May in recent polls clearly show that nationalists in Great Britain are willing.
France did not see a left or right wing party’s candidate in the second round of elections for the last six decades. Anti-immigration rhetoric seemed to favor Le Pen. She clearly stated her anti-EU and anti-immigration stance while addressing her supporters.
“The French people must seize this opportunity because the enormous challenge of this election is the wild globalization that puts our civilization at risk. Either we continue to disintegrate without any borders, without any controls, unfair international competition, mass immigration and the free circulation of terrorists, or you choose France with borders.”
Could A Frexit Be In the Making?
Le Pen’s address clearly indicates an underlying current of anti-EU sentiment, typically after the Brexit in the offing. If Le Pen becomes the President of France, political analysts believe she will follow in the footsteps of Theresa May to get France out of the European Union.
On the other hand, if Macron can win in the second round of French elections, he has got a higher chance of remaining in the EU. The European Union also wants Macron to become the next President of France as it believes it good for a stronger European Union.