Here's the stark impact that Trump's victory will have on Europe's fractured politics

But Ian Bond, director of foreign policy at the Centre for European Reform, told CNBC via phone that attempts by European nationalist politicians to claim they – and Trump - are outsiders from the political establishment is a misleading representation – even if effective. According to Bond, "To portray Trump's victory as a revolt against the elite is misleading. Trump's father was an enormous property developer and he has risen by exploiting the system himself."

Linking this to Europe, Bond added, "Both Brexiteers and Le Pen have done a good job of making themselves look like outsiders which they are not necessarily. And they have also successfully tapped into the fact that this is largely about identity politics rather than the economy."

Indeed, Bond said that the quality of life for many of the working and middle classes is better today in terms of both material possessions and health. Where the situation has deteriorated for many is in the prestige or perceived value of their work, with the consequent impact on individual's status in society and their feelings of self-worth.

Bond believes both Trump and the nationalist parties in Europe have done an excellent job of tapping into this sentiment and painting globalization and migrants as the bogeymen.