Le Pen Presidential Campaign Threatened By Russian Bank Failure

Tyler Durden's picture

A problem has emerged for France's anti-immigrant, anti-Euro presidential frontrunner, Marine Le Pen, and it has little to do with being behind in the polls ahead of the 2017 presidential elections, far from it. It has, however, everything to do with something far simpler: money, as the National Front leader is suddenly struggling to raise the €20 million ($21 million) she needs to fund the French presidential and legislative campaigns in 2017 after the party’s Russian lender failed, the party treasurer said.

This past July, the Central Bank of Russia revoked the license of the National Front’s Moscow-based lender First Czech Russian Bank OOO and Le Pen's party has still to find another backer, according to treasurer Wallerand de Saint Just. Saint Just said he’s seeking international financiers in countries including Russia because French banks have refused to fund his party.

In a phone interview with Bloomberg, Saint Just said that “the loss of the FCRB was a hard blow for us" adding that “the Russia loan was a stable resource. Now we are still searching for loans.”

And, since a Le Pen victory threatens to be the final straw that crushes the European establishment camel, it is no surprise that no existing financial organizations are willing to provide her with the funds she may need to crush them.

Last week, the French Le Parisian reported that a U.S. investment bank was preparing to lend the party $20 million in August, but pulled the plug on the deal at the last minute.

Le Pen’s ties with Russia have come under scrutiny in recent weeks amid reports that the CIA "concluded" that Putin directed hackers to buoy the candidacy of Donald Trump in the U.S. Le Pen is running second in the race to become France’s next president and is openly supportive of Putin’s military operations in Syria. The now defunct Russian bank lent the National Front €9 million in 2014. In the same year, party founder Jean-Marie Le Pen’s political fund Cotelec received another 2 million-euro loan from a Russian-backed fund based in Cyprus, news website Mediapart reported. Saint Just said Cotelec helped fund the party’s 2015 regional campaign.

Realizing which way the "Putin conspiracy theory" winds blow, Le Pen knows she wouldn’t have any problem in getting a Russian loan but, according to Bloomberg, she has decided the risks outweigh the benefits because she’d be hounded for this by the French media, said Sergei Markov, a political consultant to the Kremlin administration.  “Le Pen doesn’t want to endanger her chances,” Markov said by phone. While Russia sees the conservative candidate Francois Fillon as a strong presidential contender, it also doesn’t rule out a far-right victory, he said.

Meanwhile, Le Pen is surviving on a modest grassroots campaign, having raised some money from followers and the party has some reserves it can draw on, Saint Just said, without giving any figures. “In these funding matters you have to remain discreet,” he said. “No figures, no names.”

Of course, should Le Pen proceed to win the French election, it would be another crushing blow for the status quo, and another huge victory for the Kremlin, which would then be accused of rigging the entire world.

As Bloomberg adds, the National Front leader and her allies have made multiple trips to Moscow or Crimea in recent years. Putin this month signed a “working agreement” with Austria’s populist Freedom Party in Moscow, after the group reached the runoff for its presidential election.

Ironically, amid concern that Russia may also seek to influence European elections, the National Front has begun to play down its ties to Moscow, something which clearly neither bothered Trump, nor adversely impacted his victory in presidential race. In February Saint Just said the party was reaching out to Russian banks for 25 million euros to bankroll its presidential campaign.

Unlike other candidates, Le Pen hasn’t disclosed her campaign’s funding or spending.

Others are more open: republicans nominee Francois Fillon, who is leading in the polls, published the spending on his primary campaign on Wednesday while centrist contender Emmanuel Macron said his newly founded party En Marche! has raised 4 million euros from donors. Both disclosures were voluntary as campaign accounts don’t have be made public in France.

The two-round presidential election is scheduled for April 23 and May 7 and the French will return to the polls on June 11 and 18 to elect delegates to the National Assembly, the lower chamber.

Should Le Pen remain financially isolated, her chance of winning the election in which she is perceived as a long shot, but all too possible in light of recent stunning political upheavals, will quickly evaporate.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
JLee2027's picture

Trump has the money

BorisTheBlade's picture

And he has to throw them around? I doubt he will.

JLee2027's picture

You're right. We don't want foreigners electing our pols and Trump should do the same.

Nemontel's picture

Le Pen only needed the russian bank because nobody else wanted to give them a loan.

caconhma's picture

One must be absolutely insane to deal with Ptostitutin and his regime.

Takeaction2's picture
Takeaction2 (not verified) JLee2027 Dec 27, 2016 2:57 AM

Off topic....but funny.  I just purchased 5 oz of Gold on Ebay.  They had a deal tonight where they gave you 10% in Ebay bucks.  They will NOT give you 10% back on Gold bullion, but they missed excluding "World Coins".  So I bought 1oz Kruegrands (You have to hunt to find people who list the gold under world coins..) for $1220 minus the $100 ebay bucks....a good deal at $1120 an ounce.  And then...just now...Gold spiked up $15 Plus an ounce...what is going on?  Maybe the world saw me buy these 5 oz's and I moved the market...LOL  Have a great night.

The central planners's picture

The market is so tight that you cornerd it out with 5 ounces? lOL!!

HenryHall's picture

>> but they missed excluding "World Coins".  So I bought 1oz Kruegrands

 

I would be cautious before buying off a vendor who can't spell Krugerrand

The central planners's picture

Jill stein must have some cash around left from her last political venture.

Squid-puppets a-go-go's picture

First Czech Russian Bank? It just became Bounced Czech Russian Bank

I'm killin me.

Urban Redneck's picture

Better Banca Monte dei Paschi di Siena than Trump.

I prefer irony, and what group of EU banksters has a bigger grudge against Mammon's minions in Brussels & Berlin?

SchlitzTallboy's picture

If she wins it a blow to the status quo and a huge win for the Kremlin.

Who and what is the status quo? Name the status quo.

 

KuriousKat's picture

Soros ! If her getting elected can cause panic in anyway..thats the man and that's his thing. Plus he has a score to settle with France anyway..for the LulZ

ZD1's picture

Soros? No. Le Pen is a French nationalist while Soros is an open borders New World Order globalist.

They're like oil and water.

KuriousKat's picture

He's a hedger...does both sides..all these mofos have a plan B for every B

ZD1's picture

If that were true then Soros would have supported both Hillary and Trump--which he didn't.

For Soros, globalism trumps nationalism.

KuriousKat's picture

You better recheck Trumps loan history. And another thing..I could give a rats ass about France after what they did to Libya  and the Sanctions on Russia..Its Karma..Globalism or Free Trade is not gonna prevent whats going down..Pen or No pen

http://moneymorning.com/2016/03/02/this-little-known-trump-soros-connect...

There are no white knghts in this story..

GreatUncle's picture

And that is why the globalists are fools ... keep it stacking, terrorist atrocities, everything, the works.

Little children will be stoning Soros to death in the end as payback.

KuriousKat's picture

I empathize with that..There is a long line stretching from Malaysia to Crimea and halfway back..I am sure

but its so uncreative..

I would prefer to see him in a jail like Bernie Maddox guy..and seeing his children suicide themselves one by one..the news delivered daily by one of his  wifes new boyfriends wearing his favorite tie and rolex.

MEFOBILLS's picture

I could give a rats ass about France

 

Take a look at a map.  There is a reason why Bolsheveiks attacked France in French Revolution.  (Yes, they weren't called Bolsheveiks back then, but basically were the same people.)

To the West is English Channel and easy access to Atlantic.  This means that France is a key part of Atlantacist "shipping" - a strategic member of international Capital means.  (Moving goods and Oil by shipping is a key part of controlling the continent, by then controlling the rim areas.  These areas border oceans.)

To the east is Belgium, Switzerland, Germany, and Italy.  South is the Meditteranean and Spain.  

France is a seriously important country.  To have it go down the shitter, and have it Moslemized, or further Zionized is bad bad bad.  Did I say bad?

What France did to Libya was because they are in bed with Zion's international capital, and its associated petrodollar.   

MEFOBILLS's picture

In other words, France has been parasitized.  

Don't blame the victim, they are trying to eject their parasite.

quasi_verbatim's picture

So, snowflake pussy 'Murcan money-lenders got the shits last August in case president clinton put their balls in a vise. What else is new?

RedDwarf's picture

So anyone got information on this First Czech Russian Bank?  Did it legitimately go belly up or was this the first move to kill Le Penn?

ebworthen's picture

Hell, I'd donate $1,000 for a night alone and "advising" her.

YHC-FTSE's picture

Opposite ends of the spectrum perhaps, but I condemned Hitlery as a traitor for whoring herself out to foreigners for money and I do the same for LePen. You just do not fund political campaigns with foreign entities that may have conflicts of interest with one's own nation. The french aren't exactly well know for their sense of honour, but this is common sense. Come on, if she can't raise a measly $21 M from her countrymen, then there's no point. 

ZD1's picture

The difference is that Hillary gladly accepted foreign money without any hesitation while Le Pen didn't.

Le Pen knew she wouldn’t have any problem in getting a Russian loan but, according to Bloomberg, she decided the risks outweigh the benefits because she’d be hounded for this by the French media so she didn't.

The liberal media was all for Hillary and they would never hound her for the foreign money that she had accepted.

YHC-FTSE's picture

I know there are a lot of Le Pen fans here and I also know what you are - you've been on my shitlist for awhile.

The article states Le Pen accepted foreign money ALREADY. Whether she did it without hesitation or with hestitation is immaterial. That's not an excuse. And by your own admission, she declined any future Russian loans not out of any sense of ethics, but as a public relations exercise. You're simply rationalizing her actions with some outright lies.

You and I both know Le Pen is under the influence of her partner Louis Aliot, a zionist and crypto jew who is also one of the vice presidents of the National Front (FN). By all accounts, he wormed himself into the upper echelons of the group to control its direction from within. He has often talked about their (Himself and Marine Le Pen's) right to get Israeli citizenship under the Law of Return since his grandfather was jewish and about not tolerating anti-semetism, yet attacking every other religion and race in France. Basically to place judaism above everything into law.

This is how zionists have worked throughout history - inciting hatred and infiltrating neo-nazi groups just as they did in Ukraine. Right now, France is vehemently anti-Israel, in fact the Israeli defence minister A.Lieberman recently asked all the jews to leave France because of its foreign policies of ostracising Israel - the recent settlement vote at the UN and the upcoming Middle East peace conference organized by France has provoked the zionists into frenzy. A Le Pen victory would be a victory for Israel and the zionists. I would not be in the least bit surprised if Le Pen gets her funding from an Israeli bank or many of its proxies.

BarkingCat's picture

She was getting a LOAN not donations from the Russian bank. Huge difference.

soniii's picture

Le pen jewish friend ? are you crazy or what, im french and they are negationist for his grand father the camps never existed or were a "detail" in history ... 
Some of the frontist also have nazi influence, and are totally against foreigners, france for french men..

You can review your thesis, many actions against jewish people were done by her followers 

YHC-FTSE's picture

That's Marine Le Pen's father you're talking about. Her husband and VP of the National Front is a zionist. You should at least read the links provided before you make your post. Tu aurais mieux fait de réfléchir.

soniii's picture

Her grandfather, dead since ... ? its her father the problem and he is deeply racist especially against jewish people.
I admit that i didnt know about her grandfather which is strange to me because among her father actions : denial of the holocaust, nazi influence, and loooots of bullshit said on tv about foreigners jewish people etc
That's why Marine try to detach from her father (kicking him out of the party) to get votes because his father is extremist in his words, and it doesnt pass. 

YHC-FTSE's picture

Nothing you have said refutes my claim that the FN is run by a fervent zionist vice president who is also Le Pen's husband.

ça marche. Tu es français, huh? /sarc

soniii's picture

i agree to disagree how can the most racist political figure of france be zionist if everything he said and did is against this movement ? 

see the paradox ? :) typical french reasoning haha

bh2's picture

Important to distinguish between a loan (which must be paid back) and a donation (which is gratis).

LePen used a Russian bank for loans. Clinton (through her foundation) tapped foreign sources for outright "donations" (AKA "bribes").

IronForge's picture

Small, incremental donations.  If Bernie can do it, so can she.

Koba the Dread's picture

". . .reports that the CIA 'concluded' that Putin directed hackers to buoy the candidacy of Donald Trump in the U.S." Yeah! Yeah! And Donald Trump is the Manchurian candidate. . .according to the CIA. When did those guys ever tell the truth?

ArgentoFisico's picture

fuck! That's 1 euro for 20 million europeans or 10 euro for 2 millions europeans.

I can't belive they cant' get the funds with a fundraising. I'm willing to do my part

Khan Bodin's picture

Yes, you should donate. It should be very easy to raise that kind of cash. It's a meager amount. I am sure Sarko the Murican, as I think Frenchies called their former presidente, was paid more in bribes for some of his North Atlantic Terrorist Organization activities (like bringing Francies in) than that.

Khan Bodin's picture

And that former Frenchie presidente, Hungarian Jew by the way, publicaly called Frenchies to breed with Africans. He said to the Frenchies, "You must breed with the niggers because we are building a new race of Mulats, and France in the future will be a land of Mulats" (note how aristocratic and political euro-establishment, who are aptly and deservingly, together with their followers, widely known as eurotrash, have set forth on some quest of buildng "european" project with non-european people: in other words, by building "european" project, they aim to destroy indigenous european people, ehehehe that idea must have been born in the heads of some Anglos and their comrades-in-crimes the Jews). Anyway, Frenchies were eager to comply because they abandoned their race, ethnicity, Druid traditions, Celtic people and their gods, and didn't want to be called racists. ehehehe Then Frenchies go to rewarded their traitorus presidente who called for their destruction with a beautiful woman. ehehehe Unbelivable stuff. Where else but in degenerate liberal lands can you see something like that?

Joe A's picture

Fund raising is an option. But there is a twist to that. It has to be anonimous or else the authorities finds out who supports them.

lakecity55's picture

Russia vs. CIA.

CIA has all kinds of bread from the businesses they operate.

They own a chain of convenience stores in my town, where they employ their muslim agents. They also own a lot of payday loan stores and cash for gold stores.

It's not just big insurance or airline outfits anymore! The weasels are into all kinds of legit business besides their dope-dealing.

LePenn will have to get a loan from Iran.

GreatUncle's picture

Haha, that's an indirect American loan from Obama himself personally then.

henrietta's picture

why do people call bribes loans?  what is the capacity of a political party to repay loans, i.e. where does the cash-flow of political parties come from? this is a corrupt as it gets, and I don't mean just this specific case, but generally.

as to this putinoid of a president wannabe, agree that exiting the EU is good for France, but claiming that the current putin regime is any different than the old soviet one is just laughable. the lady needs to stop smoking crack.  if NATO did not exist, lilliputin would have re-established the old eastern block by now. 

Khan Bodin's picture

You are obviously a mental creature who doesn't even know the difference between a bribe and a loan. Let me help you. A loan is something you must pay back together with an interest. It's a business transaction where a lender gives a borrower an agreed amount of money for a price called interest. Nothing other than paying back an interest with the principal is required from a borrower. Bribes on the other hand you don't give back. Bribes are something given to influence you to take a certain action those giving you bribes require from you, which by its very nature is something unauthorized, illicit or illegal. It's a form of buying your influence or access. You should consider visiting some lobotomy office to inspect your medical condition. Your mind can't be in a good state if you are not able to differentiate such ideas, concepts of which even 6 year olds know difference between.

henrietta's picture

yes, khan whatever, now take a look around in the real world.  show me what is the capacity of a political party to service EUR 20m in debt? does a party have stable cash inflow big enough to pay interest and amortise the loan? i bet you that this 'loan' is going to get bought from the bank by an offshore entity XYZ and then the loan will be 'restructured' and ultimately 'forgiven'.  

moreover, do you think Le Pen's party could accept a direct payment from Putin structured as a grant of gift?  of course not, my dear naive friend. at least now Le Pen can deny having taken direct cash infusion by the Kremlin.

hence the 'loan' structure. form over substance, everything is legally correct here.