Whoever wins the second round on 6 May, the vicious circle of high expectations and great disappointment is not likely to come to an end. The greater the disappointment, the more erratic electoral behaviour will be and the more trust in institutions and elites will decline. So far, there is clearly no political will to address those issues through institutional reforms. Some candidates have pushed for a 6th Republic, but the most likely outcome is institutional status quo after the election.