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Reading time: 3min – Video: 140min
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Ministers who leave politics for business, bosses who dream of influencing political life … Is there a risk of mixing genres, even conflict of interest? How far can private money influence democracy? For “Cash Investigation”, Élise Menand investigated the links between these two worlds, and the effectiveness of the rules supposed to supervise them. An investigation to be seen in “Cash Investigation” on June 24, 2025, on France 2.
It was a promise of candidate Emmanuel Macron in 2017: to make room, in his government, to talents from civil society. But what happens to these men and women, once their ministerial function is finished? They are twice as numerous as before he occupied a function in the private private, such as Edouard Philippe, Olivier Véran or Muriel Pénicaud. This is called pantouflage.
Some of them work for companies in the sector they were in charge as minister. How can we make sure that they will not try to influence their former government’s comrades to promote the interests of their business?
Among the “Pantoufleurs” ministers: Cédric O, a former secretary of state in charge of digital, then co -founded an artificial intelligence company, Mistral AI.
What role did he play as a lobbyist in Brussels during the negotiations on European law supposed to regulate, precisely, artificial intelligence? Has he respected the rules supposed to avoid conflicts of interest? Are these rules quite effective? Élise Lucet posed all these questions to the former president of the High Authority for the transparency of public life, Didier Migaud.
If there are politicians who go doing business, a boss is very interested in politics: Pierre-Édouard Sterin. This billionaire made a fortune thanks to the smartbox and today dreams of being a king’s maker: he decided to devote part of his money to “serve and save France”. For this, he plans to invest 150 million euros by 2032 to support a political camp ranging from right to the far right. Among the projects he sponsored, a training school for future mayors, a galaxy of associations and think tanks positioned against abortion, against immigration and “anti-woke”.
But Pierre-Edouard Sterin does not stop there. “Cash Investigation” reveals that he helped behind the scenes of politicians during the electoral period. What risks is it weighing on our democracy? Are the laws that supervise political life effective enough to combat this influences?
An Elise Menand investigation.
> The big debate
After this unique issue of “Cash”, the magazine offers a great debate. Guests from all walks of life answer Élise Lucet’s questions: Laurent MauduitMediapart; Jean Garrigueshistorian, specialist in political history; Dark brown cautrespolitical scientist, researcher Cevipof, expert Institut Montaigne; Anne-Sophie SimereObservatory of multinationals; Nathalie SonnacExpert member of the CSA, Professor Sciences of Information Paris Panthéon-Assas.
“Cash investigation”: revelations, a debate, solutions.
> Replays of France Télévisions Info Magazines are available on the Franceinfo website, “Magazines” section.
