Emmanuel Macron secures French Presidency

Posted by Christian J. Hadjipateras 08/05/2017 0 Comment(s) Economia Blog,

Emmanuel Macron has become the 8th President of the French 5th Republic with a convincing victory over Marine Le Pen, leader of the far-right Front National. In doing so, Mr Macron, at just 39, is the youngest French President ever and youngest head of state since Napoleon. It completes a remarkable rise to power for someone who had until now never held elected office and only last year founded his own political party, En Marche! (‘Forward’ or ‘On the Move’).

 

The centrist Mr Macron won 66.1% of the vote to Ms Le Pen’s 33.9%. During his victory speech he reached out to supporters of Ms Le Pen stating that voters ‘no longer have a reason to vote for an extremist position’.

 

Being a staunch supporter of the EU, his victory was unsurprisingly welcomed by EU leaders who are hoping that this will be a welcome boost to the Union. Although the Euro rose immediately following the result, it was down 0.3% by 10am CET to $1.0965.

 

Given that En Marche is new to the political scene, Mr Macron will have a challenge in getting the required number of seats in June’s parliamentary elections in order to pursue his legislative agenda. Should he fail to get a majority, he may be forced into forming a coalition.

 

In addition to becoming the youngest ever French President, Mr Macron’s victory also brings an end to decades-long dominance by France’s two main parties. 

Leave a Comment