According to Finance Minister Wolfgang Schaeuble, the French presidential election, whose first round takes place this weekend, poses a risk to a stable global economy.

In the electoral process, French voters elect a president in a two-round vote on April 23 and May 7. Opinion polls have for months forecast that National Front Leader Marine Le Pen would make it through to the run-off, but then face a harder challenge in the final stage. To the extent that they are accurately representative, the latest opinion polls show that Le Pen and Macron are on equal footing, with a slight lead for Macron. However, recent election polls, such as those of the US election had a 95% predicted win for Democrats – which could not have been more wrong.

NF leader Le Pen is campaigning on a platform of taking France out of the European Union and the Euro as well as restoring Judeo-Christian values to offset the rising tide of terror. The latest terror this Thursday might also weigh in on the election given its close proximity with the vote. Far-left, communist politician Jean-Luc Melenchon has also held out the possibility of a Frexit, drawing level with Fillion at third place – just four points behind Macron.

Speaking on the side-lines of the International Monetary Fund meetings in Washington, Schaeuble said: "It is no secret that we will not be cheering madly should Sunday's result produce a second round between Le Pen and Melenchon… Political movements also belong to geo-political risks. I have big confidence in the republican rationality of the French".

Schaeuble also revealed his expectations for the G20 leaders to find a "non-confrontational" solution to trade issues when they meet in Hamburg in the summer. The United States has criticized Germany's large trade surplus and threatened to shrink U.S. trade deficits with potential measures to restrict imports.

This comes amid heightened concerns about the volatility of French elections.

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