Through an analysis of the first half of François Hollande's five-year presidential term, this study examines the strengths and weaknesses of presidential politics following the Left's return to power in 2012 and puts forward an interpretation of the underlying nature of contemporary French politics, and the Fifth Republic itself. The analysis demonstrates that the Fifth Republic is dysfunctional, because of the manner in which political observers and actors have understood or failed to understand this singular republic and its performative requirements. The book examines how François Hollande, as President, acted 'out of category', and what the first half of the five-year term – up until the creation of the Valls government, the European Elections, the publication of Valérie Trierweiler's book in 2014, and the return to frontline politics of Nicolas Sarkozy – tells us about the nature of the Fifth Republic.