France: Q&A on the Le Pen case

In recent weeks, the French political situation had once again become excruciatingly boring – which is the best one could hope for regarding economic activity. A budget finally approved, a government at work (or at least pretending), a president who is active in his private preserve, i.e. national defence and a surfeit of candidates with their eyes riveted on the 2027 presidential election. Amongst these, Marine Le Pen was by far the favourite. But yesterday, she was banned from running for public office for a period of five years. She got through to the second round of the presidential election in 2017 and then in 2022, but barring a miracle, she will not be able to compete next time. What are the implications?