If Le Pen were to somehow win, “capital controls would be a must,” said Andrea Montanino, director of the global business and economics program at the Atlantic Council.
“If you don’t have capital controls, you will have a massive outflow” of cash out of France, he said. “And, if the banks lose liquidity, they could fail.”
Le Pen made her comments on capital controls as she is scrambling to broaden her appeal beyond the base that voted for her in the first round of the election. France holds two rounds in its presidential races.
This week, Le Pen held a major rally in the Paris suburb of Villepinte, hoping to broaden her appeal. While she has gained ground, she has not managed to significantly narrow the gap with Macron in the polls.
Macron is seen winning on Sunday with 60 percent of the vote, according to Opinionway, a French polling firm. That said, Le Pen might have one more chance to make it a close race.
“The next test will be tonight at the televised presidential debate, in which Macron has a lot more to lose,” said Eurasia Group’s Lichfield.
The debate will be held Wednesday afternoon ET.
Watch: What could the French election mean for the markets?
