Here, for instance, is a chart based on February polling that shows Le Pen
Then came the past month’s debates in which a previously-overlooked communist candidate named Jean-Luc Mélenchon shook up the major candidates by pointing out how corrupt they all are. Voters liked what they heard and a significant number of them shifted his way.
Mélenchon: Far-leftist surges in French polls, shocking the
Suddenly, the grumpy far-leftist — a showman in a Chairman Mao jacket who openly admired late Venezuelan populist leader Hugo Chavez — holds the mantle of France’s most popular politician. In the course of a whirlwind month, the 65-year-old Mélenchon surged nine spots to number one in weekly glossy Paris Match’s opinion poll. A full 68 percent of those surveyed hold “
On some polls, Mélenchon has now bypassed embattled conservative François Fillon for third place in a presidential race that will see the top two advance to the May 7 run-off.
An Ipsos poll on Tuesday put Mélenchon a half-point ahead of Fillon for third place in the race, behind National Front leader Marine Le Pen and the independent centrist Emmanuel Macron. With 18.5 percent, the far-leftist has gleaned 4.5 percent in just two weeks, with Macron and Le Pen tied
Mélenchon wants to quit NATO, the World Trade Organization, the International Monetary Fund, the World Bank, and block European trade treaties with the United States and Canada. He promises a French referendum on whether to stick with the reworked EU he is pledging to negotiate or leave the bloc altogether.
Here’s a chart from the Washington Post showing just how tight the race for the run-off spots has become:
It’s still unlikely that both Le Pen and Mélenchon will make the run-off, but based on the above
So it almost doesn’t matter who wins that run-off. Just the prospect of having one or the other in charge would tank the Euro and set off a stampede out of Italian, Spanish and Portuguese bonds, possibly doing irreparable damage to the Eurozone before the eventual winner even takes power.
To repeat the theme of this series, when you screw up a country’s
So if a fringe candidate doesn’t win this time around, the mainstream will just make an even bigger mess, raising the odds of a fringe victory next a few years hence.
- Source, John Rubio via the Sprott Money Blog