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Another Twist in the French Election Tale?

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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

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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