Center-left candidate Emmanuel Macron clinched the victory over right-wing populist Marine Le Pen in the French presidential election Sunday, by a margin of 65.1 percent to 34.9 percent.

The reaction from much of the media elite was to declare the populist movement that fueled Brexit in the U.K. and the election of President Donald Trump in the U.S. at an end. But that conclusion misreads the impact of Le Pen’s campaign and the pressures that still face western voters.

“I think we’d make a mistake if we see populist candidates who don’t win and then we think it’s had no effect.”

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“The globalists will stick together. They realize that all across the west there is a new movement standing up and fighting for national democracy, and that is what Le Pen stands for,” Nigel Farage, the former leader of the U.K. Independence Party and a prominent supporter of Brexit, said Sunday on Fox News several hours before Macron’s victory was made official.

But Farage suggested that rather than a setback, the outcome of the French contest is an indication of just how powerful the policies and ideology of the populist movement have become as a political force in western democracies.

“Euro-skepticism in France will have taken a massive leap forward today,” Farage said.

“If two years ago I’d said to you that Marine Le Pen would be in the run-off for the presidential election and likely to get around 40 percent of the vote, you simply wouldn’t believe me. That’s how much things have changed,” Farage added. “You know, this vision of a Europe where nation-states should give up their identities and have open borders — it may be a dream of the elites like Obama, but it’s not what ordinary people want.”

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Sure enough, former U.S. President Barack Obama endorsed Macron’s candidacy on Thursday, insisting that “the French election is very important to the future of France and the values that we care so much about.”

The pro-EU and globalist positions espoused by Macron, Obama insisted in his video endorsement, appeal “to people’s hopes, not their fears.”

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Farage made clear the economic malaise, decline of national sovereignty, and threats posed by terrorism and open borders will not disappear because of one election.

“And I’ve said it before and I’ll say it again: The European project is doomed, and Brexit really was the first big step on that road,” Farage continued, noting that the current mood in France “is actually quite solemn.”

“I mean, let’s not forget there have been 21 separate terrorist attacks that have taken place in France since 2015. They are stuck in a currency that clearly is overvalued for them, although, of course, undervalued for the Germans. And France is in a very bad place,” Farage continued. “But is it ready? Is it ready yet to endorse a candidate that wants France to pull out of European Union? Well, maybe not yet. But I’ll say this: I do think Marine Le Pen will become the French president. It just may be in 2022, as opposed to today.”

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Former U.S. Secretary of State Condoleezza Rice agreed with Farage in a separate interview Sunday.

“It comes in a wave of elections in which we’re seeing populists have a great deal of power,” Rice said Sunday during an interview with USA Today’s Capital Download. “But I think we’d make a mistake if we see populist candidates who don’t win and then we think it’s had no effect.”

Le Pen’s showing, while not enough for victory, was remarkable for a party that just several years ago was at the fringe of French politics.

The impact of populist voices is already having an effect on the next major electoral contest in Europe.

German Chancellor Angela Merkel’s popularity sunk as the effects of her “open-door” refugee policy in 2015 and 2016 and it cost her Christian Democratic Union party heavily in regional 2016 elections as the Alternative for Germany party rose.

With national elections due in the fall of 2017, Merkel’s party has shifted dramatically to the right and in favor of greater restrictions on radical Islam. Merkel herself has called for a burka ban. The shift in Merkel’s party shows the impact the populist movement can have outside of outright electoral victories by pressuring center-right parties to change course.

Something similar happened during the earlier stage of the French contest. Center-right candidate François Fillon adopted many of the positions espoused by Le Pen on terrorism, culture, and immigration, and even took a harder line towards the EU than candidates of his party in the past. Fillon was knocked out of the French contest when Le Pen and Macron advanced to the runoff election last month.

“I really do believe that these populists are changing the character of the politics just by being there, so even mainstream candidates are having to respond to their agenda,” Rice said. “You see fewer people talking about free trade. You see countries talking about industrial policy and protectionism. It’s hard to defend immigrants almost any place in the world today … The rise of nativism is having an impact on the politics, even if the candidates aren’t winning.”