Elves as France
The Elves seem perfectly content to observe complacently as their world is taken over by evil dickbags. Even though they have a "history of courageous militarism," they are way too pussy to actually participate in the war. Only a small group of Elves (representing, of course, the French resistance movement) is actually willing to stand up to Mordor and fight alongside their allies. Presumably, this means Legolas is Charles de Gaulle, seeing as he is the most involved elf in the war. Accordingly, Elrond is Field Marshal Philippe Pétain, the leader of the elves whose passiveness facilitated the spread of evil to the point at which he's basically a traitor.