The far-left candidate wasn’t a well-known figure outside France but his recent surge in opinion polls raised eyebrows among investors and commentators. If Melenchon were to gather enough votes this Sunday and make it to the runoff, France could be faced with a final choice between the far-right and the far-left.
Pierre Gattaz, the leader of France’s main business lobby Medef, described such a scenario as “a catastrophe” and a choice between “economic disaster and economic chaos.” Melenchon has pledged to raise public sector wages and take on more debt to subsidize that. The member of the far-left has a similar view to Le Pen when it comes to Europe. He wants a renegotiation of European treaties and if the EU weren’t to agree, he would quit the Union.
The head of La France insoumise (Unsubmissive France when translated into English) is tied with Fillon in the latest polls with 19 percent.