The yield difference between French and German 10-year bonds widened on Monday as investors priced in heightened concern over the chances of a victory for the anti-euro Marine Le Pen in this year's election.
Le Pen hopes to capitalise on the same rejection of mainstream politics that helped the Brexit camp win in Britain and swept Donald Trump to the U.S. presidency. Formally launching her presidential bid Sunday, she warned about the "two totalitarianisms" facing France - Islamism and globalization.
Le Pen announced a 144-point platform to give "freedom" back to the people.
Riding on the coattails of far-right victories in the USA and U.K., France's Marine Le Pen officially launched her bid for president on Sunday with a speech and manifesto full of populist talking points and anti-immigrant fervor. Image credit: EFE/EPA/ARNOLD JEROCKI.
"If the European Union does not submit, then I will ask the French to vote in the referendum to resign from this nightmare", she told a crowd of some 3,000 supporters from her National Front party as a two-day rally came to a conclusion. Her success represents both a triumph of rebranding and the wave of populism sweeping much of the West.
However, the party dropped a former pledge to restore the death penalty.
She also wants to leave North Atlantic Treaty Organisation, and devout to "two per cent of gross domestic product" to building up the French Army.
Le Pen's program also stipulates restoration of national borders, exit from the Schengen zone, reestablishment of customs offices.
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"This election is a choice of civilization", Ms. Le Pen said in her speech, painting a bleak picture of a future in which France has lost its French identity. Le Pen has already been a presidential candidate as she lost to Hollande in 2012.
"I think the situation is bad these days", Le Pen said told Times of Israel in October. During that particular speech, she asked if her kids and any other young citizen would be able to have the same rights and culture than the earlier generation.
She told the EU Commission past year: "Brexit has really broken a taboo".
About 43 percent of William Hill's takings on the French election to date are on Le Pen, Sharpe said, adding that on Friday one punter was unusually bold. Roger Cukierman, the head of French Jewish umbrella organization CRIF (Conseil Représentatif des Institutions Juives de France), said at the time that Le Pen's removal from the party was a largely superficial move and that the party remained xenophobic.
The presidential candidate has stated that no French person that has dignity can accept the cultural dangers that Muslim people bring to the country.
Her party promises to offer France a referendum on European Union membership if a renegotiation of terms fails.
"Islamic fundamentalism is attacking us at home", she said and went on to compare Islamists settling in France to wolves in a henhouse and claimed Islamic fundamentalism was "planting itself in some neighbourhoods. and vulnerable minds".