The story is seen entirely from Fleming's viewpoint. (If there is any guilt on the fiancee's part, she doesn't show it.) Fleming is a leading Conservative MP, likely to take over a Cabinet post as minister of health in the next re-shuffle. I feel the author, Josephine Hart, decided to give him that job, in order to maximise the fall that confronted him when his errors are discovered. It was as senior an establishment role that the protagonist could have without fearing he would be recognised at every street corner. Politics don't play a large part in the story, but the film will have played some small part in the image of sleaze that the Conservative party acquired in the early 1990s.
Binoche is utterly beautiful, and totally passive during the sex scenes, but her accent (cleverly excused by scriptwriter Hare as the result of her travelling the world) is all over the place. Irons is convincing in the role, and Miranda Richardson puts in another perfect performance. Their son, the victim, is almost too good-natured to be true, but this helps to highlight the contrast with his father's uncontrollable lust.
As with 'Day of the Jackal', the motion is very occasionally jerky -- one or two frames seem to be missing from the transfer from film reel to DVD, but not enough to harm one's enjoyment.
This is not far from being a truly great film, but I think it would have needed one extra dimension -- don't ask me what -- to achieve that.