Skip to content
Monday 24 August 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE · FR
MorningWire

European business, markets and politics

FTSE 100
10,854.32
+0.35%
DAX
26,106.60
-0.11%
CAC 40
8,453.01
-0.37%
STOXX 50
6,447.98
-0.22%
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
More
GermanyFranceEU InstitutionsCompetitionPublic AffairsBankingTechnologyEnergy
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
  • DE
Monday 13 February 2017 4:59 am

Blame France’s incompetent and corrupt elite for the rise of Marine Le Pen

By: John Hulsman

Add as a preferred source on Google

“Apres moi, le deluge.” (After me comes the flood) – Louis XV

Say what you will, Francois Fillon, the disgraced former frontrunner in the upcoming French presidential elections, is no Professor Moriarty. As the investigative journal Canard Enchaine reports, Fillon paid his wife Penelope over €800,000 for work as a political assistant it is unclear whether she performed. Far from being a master criminal, it seems he gave two of his children legal jobs despite the highly relevant fact that they were not yet lawyers. France is ripe for another revolution to rectify such excesses.

This is the problem with the rise of populism in Europe. The demagogues – horribly wrong as they are in policy terms over peddling impossible dreams as solutions – have all the best lines. And they are entirely correct in that Europe’s lazily corrupt, highly incompetent elite have driven the people they represent into a ditch.

FRANCE-POLITICS-RIGHTWING-LR-FILLON
Francois Fillon's wife – the woman at the centre of Penelopegate (Source: Getty)

There is no doubting that Marine Le Pen, the charismatic, firebrand leader of the xenophobic Front National (FN) has a great story to tell about both French elite corruption and incompetence.

The corruption portion of the populist narrative is beyond dispute. Beyond Fillon, former President Jacques Chirac and former Prime Minister Alain Juppe were given suspended sentences for corruption. Former finance minister and current IMF chief Christine Lagarde was found guilty of negligence for approving a massive payout of taxpayer money to a controversial French businessman. Former President Nicolas Sarkozy is presently under investigation for alleged illegal campaign funding. In reading this doleful list, sometimes I truly wonder if there is anyone left in power in France who has behaved honourably.

Read more: It’s time to face facts: Pandora’s Box is open and Europe is finished

The other side of the coin, incompetence, is epitomised by hapless outgoing current President Francois Hollande, a leader so gormless that in November 2016 he had a personal approval rating of just 4 per cent, a subterranean low unequalled in the history of the Fifth Republic. Bowing to electoral reality, in December 2016 Hollande surrendered, not even bothering to try to run for a re-election he stood absolutely no chance of winning.

The main reason for this was his pathetic failure to even begin to substantially reform the sclerotic French economy. During his tenure, France has lost a further 600,000 jobs. In 2016, France grew at an anaemic 1.1 per cent of GDP, in line with its lacklustre 1.2 per cent in 2015. Stunningly, as of January 2017, more than one in four workers under 25 is jobless. The world is simply passing the French economy by.

Hollande
The deeply unpopular President of France (Source: Getty)

As a result of this dual headed monster of corruption and incompetence, Fillon has fallen in the polls, making maverick centrist Emmanuel Macron the new frontrunner to be President of France. The latest early February 2017 polls have Le Pen at 25 per cent, Macron at 22 per cent, and Fillon at 19 per cent in the first round of voting. In a second round, Macron would win decisively over Le Pen with a 66-34 per cent advantage. But while the competent Macron is now likely to win, such a victory should not be seen as a repudiation of Le Pen. Rather it is part of her long-term game plan.

For Macron is France’s last, best chance to save itself in its present form. However, if he cannot reform the heretofore unreformable French economy, France as we know it is on its last legs. Le Pen is set to take one third of the vote in the second round of this year’s presidential elections on 7 May, almost double her father’s total of 18 per cent as the FN candidate in the second presidential round of voting in 2002. So the flood waters for the French elite are definitely rising.

Read more: Scandal-hit Francois Fillon could gift Marine Le Pen the French presidency

All Le Pen needs are five more years of economic failure, and then she has all the chance in the world of winning the presidency next time, especially as her narrative of elite incompetence and corruption hardens into certainty for the French electorate. Le Pen is merely betting on things staying as they are, with the talented, youthful Macron (he is only 39) unable to drag his country into the twenty-first century. Given France’s recent past history, that is more than a reasonable bet to make.

Emmanuel Macron Visits Berlin
Macron is the youthful face of reform in France (Source: Getty)

And yet in Macron there is hope. A former Rothschild banker, he comes from the real world pro-business wing of the Socialist Party, serving as a marginally successful economy minister under Hollande, after the French President made his belated policy pivot back to economic reality. If anyone can reform France, Macron is the man.

However, Le Pen’s long-term bet on French elite incompetence and corruption has so far been borne out by the historical facts. It will take real French reform to stave off the terribly destructive prospect of French populism. For the main problem in French politics at present is that only Le Pen seems to have a real long-term political game plan.

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Business
  • Politics

Related Topics

  • International

Trending Articles

  • Can debt-ridden Morrisons become a Big Four supermarket again?

  • Ratcliffe’s Ineos saves Runcorn plant

  • As it happened: Stocks rally; US to unveil ‘economic D-Day’ Iran sanctions

  • Amazon says it buys books in bulk to ‘improve products’

  • HMRC mansion tax inspectors to target homes for property valuations

More from Morning Wire

  • Jobless Banquet: Youth unemployment surge ‘sends Neets to KFC’

    Retail
    Redhead woman excitedly biting into a piece of KFC fried chicken dipped in green sauce.
  • Soaring energy bills set to fuel inflation spike

    Economics
    Smartphone displaying an energy bill notification with British coins and a banknote nearby.
  • As it happened: Stocks rise as oil fluctuates after Red Sea attack; US-Iran deal ‘being circulated’

    FTSE 100 Live
    Donald Trump delivering a speech at a podium during a formal event, emphasizing key points to an attentive audience.
  • As it happened: FTSE 100 drops as oil prices rise after Trump makes Hormuz threat

    FTSE 100 Live
    Donald Trump speaking at a podium, microphone visible, discussing the Strait of Hormuz
  • Burnham facing calls to cut employment red tape as job seekers grow for 41 months

    Economics
    Office for National Statistics
  • Government debt repayment ‘could rise to half’ of total taxes

    Economics
    OBR chiefs told the Treasury Select Committee that a higher tax burden could stifle growth.
  • Back bookshops in bid to rebuild high streets, Burnham urged

    Retail
    Bloomsbury has reported results ahead of consensus expectations
  • As it happened: FTSE 100 drops as Antofagasta prompts miner sell-off; oil prices cool

    FTSE 100 Live
    Glencore floated on the London Stock Exchange in 2011 and is one of the largest members of the FTSE 100.
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • EU Institutions
  • Europe

Business

  • Markets
  • Business
  • Economy
  • Regulation
  • Competition
  • Public Affairs

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook