ING: French Court Ruling on Le Pen Unlikely to Have Major Impact on the Euro

A Paris appeals court ruling on whether Marine Le Pen can run for public office is likely to have limited impact on the euro, despite its significance for French politics. According to Jin10, ING’s Francesco Pesole said in a report that the court is set to decide on Tuesday on Le Pen’s attempt to overturn a ban that bars her from holding elected office over the alleged misuse of European Parliament funds. Pesole said that if the ban is overturned, it could strengthen Le Pen’s far-right National Rally and shift expectations toward Le Pen running, rather than Jordan Bardella, the party’s leader. He added that markets have largely priced in expectations of either Le Pen or Bardella winning, and that whoever is elected would show sufficient fiscal prudence, which would limit bond volatility.