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275 sats \ 2 replies \ @398ja 15 Jun \ on: French bonds and bank stocks rocked by political turmoil econ
Le Pen's Rassemblent National (RN) is partially right-wing in name only, they actually have a very socialist agenda.
They underwent a deep internal transformation to appeal to a larger voter base, the goal was to remain relentless against immigration, while loosing the racist and extremist image. In the process, Marine expelled her dad, the party founder, still a hard-core right winger. They have also abandoned many of their original positions like Frexit, leaving the euro, etc. They are pro Ukraine, and in favour of the war against Russia, etc.
They are moving slowly towards the centre, and work hard to distance themselves from other "extremist" right wing parties who are still very principled, honest about the unsustainable situation in France, and propose a harsher deviation from the current course, either on the question of immigration, like for example Reconquête party (led by Zemmour and Lepen's niece), or Frexit and the euro, or the Ukraine-Russia conflict.
Political analysts call this process "Melonification", by analogy to the Italian "right-wing" prime minister, Meloni, who's made a complete u-turn on her major promises after winning the elections. She's done almost nothing on immigration, abandoned her plans to leave the euro and the EU, and is now best friend with Ursula von der Leyen, the EU boss...
The RN is poorly staffed, they are full of activists, but miss people with experience. Their co-leader, Jordan Bardella, who is expected to become the new PM after the elections, is a 28yo high-school drop out who has joined the party very early as a 16yo boy. To succeed in this difficult task ahead of him, he will have to form alliances, but his pool of candidates is shrinking because they are distancing themselves from the extremist parties.
I personally don't expect much from the RN. This past election results were more a protest against the very unpopular Macron than anything...
Very good analysis
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Bruno Le Maire warned the euro zone's second-biggest economy faced the risk of a financial crisis if the far right were to win parliamentary elections in the coming weeks.
The irony of this! France is in this situation precisely because of Le Maire!
Also, contrary to what the article claims, the RN is NOT euro-sceptic !
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