Jordan Bardella, a 28-year-old shaking up French politics, has become the president of the National Rally, a party that has transitioned from its far-right roots to a populist party under Marine Le Pen’s leadership. Bardella, born to Italian immigrants, excelled in school but dropped out of the Sorbonne University to pursue a career in politics. His rise in popularity is due to the country’s swing towards the populist right in the recent European Union elections, where the National Rally secured 31.5% of the votes, leading to President Emmanuel Macron calling for a snap parliamentary election.
Unlike Marine’s father, Jean-Marie Le Pen, Bardella and Marine Le Pen have a more fitting demeanor and do not push antisemitic rhetoric. The National Rally’s stance on immigration and protectionism is considered far-right, but their approach to domestic issues leans towards big government programs, which sets them apart. The party’s popularity is also fueled by the high youth unemployment rate in France, which stands at 17.8%.
Despite the potential for Bardella to become the French prime minister, there are significant challenges ahead. Winning a majority in the French parliament is uncertain, and even if achieved, clashes with President Macron’s policies are expected. France’s fiscal deficit and debt levels are also a cause for concern, with the country obligated to adhere to EU limits on deficit as a percentage of GDP.
Investors have already shown concerns about France’s financial stability, with the Paris CAC index dropping 4% after Macron’s snap vote announcement. The country’s debt stands at 111% of GDP, and the deficit rose to 5.5% of GDP, surpassing the EU’s requirement of 3%. This fiscal constraint will limit the new government’s ability to implement new policies, posing a risk of France potentially leaving the EU.
In conclusion, Jordan Bardella’s ascent in French politics signifies a shift towards populism and away from traditional party lines. However, the challenges of governing amidst economic constraints and political divides present significant hurdles for the young leader and his party. The future of French politics hangs in the balance as Bardella navigates these turbulent waters.