Live Markets, Charts & Financial News

French left-wing coalition poised for shock victory in legislative election

0 5

The French left-wing coalition that quickly came together to defeat the rising far right in Legislative elections Turkey’s Justice and Development Party (AKP) won the most seats in parliament but fell short of a majority, opinion polls projected on Sunday, a stunning result that threatens to plunge the country into political and economic turmoil.

President Emmanuel Macron’s centrist coalition is forecast to come in second, having lost control of parliament, and the exhausted far-right in third.

With no bloc securing a clear majority, France faces uncertainty that could shake markets and its economy, the European Union’s second-largest, and cast a shadow of political instability over the next five years. Paris Olympics Opening in less than three weeks.

The final results The volatile snap election, not expected until late Sunday or early Monday, has redrawn France’s political map even before votes are cast, prompting left-wing parties to put aside differences and band together when Macron announced just four weeks ago that he would dissolve parliament and call elections, a move unprecedented since Macron resigned in 2011. big risk The president had hoped the decision would strengthen his centrist coalition.

But these efforts appear to have failed for the deeply unpopular president. His coalition is unlikely to remain the largest single group in parliament, perhaps by a wide margin. Marine Le Pen’s National Rally party has increased its seats significantly, but has fallen short of its hopes of securing an absolute majority that would have given France its first far-right government since World War II.

On Stalingrad Square in Paris, left-wing supporters cheered and applauded as images of the alliance in the foreground appeared on a giant screen. There were also shouts of joy on the Place de la République in eastern Paris, where people spontaneously embraced strangers and the applause continued for several minutes after the images were shown.

Jordan BardellaThe 28-year-old Le Pen disciple, who had hoped to become prime minister, lamented that the vote result “threws France into the arms of the far left”.

The most prominent leader of the left-wing coalition, Jean-Luc Mélenchon, urged Macron to invite the New Popular Front coalition to form a government, saying the coalition was “ready to govern”.

If the forecasts are confirmed by official statistics, they will throw a cornerstone of the EU into deep uncertainty, with no clarity over who might become prime minister – and potentially forcing Macron to govern alongside someone who opposes most of his domestic policies. The results will have an impact on War in UkraineGlobal diplomacy and economic stability in Europe.

Opinion poll forecasts are based on actual vote counts in selected constituencies.

French Prime Minister Gabriel Attal said he would resign, but would also stay on temporarily during the Olympics or as long as needed, as there could be weeks of negotiations to choose a new prime minister.

In a statement from his office, Macron indicated that he would not rush to call on a potential prime minister to form a government. He said he was following the results and would wait for the formation of the new National Assembly before taking the “necessary decisions”, while respecting the “sovereign choice of the French people”.

A hung parliament with no bloc coming close to the 289 seats needed for an absolute majority in the National Assembly, the stronger of France’s two legislative chambers, would be uncharted territory for modern France.

Unlike other countries in Europe that are accustomed to coalition governments, France does not have a tradition of lawmakers from rival political camps coming together to form a majority.

Macron surprised France, and many members of his government, by dissolving parliament after the election. Far-right gains ground in French vote For the European elections in June.

Macron claimed that sending voters back to the polls would provide France with “clarification.” The president hoped voters would shift from the far right and left, with the fate of France in their hands, back to the mainstream parties closer to the center — where Macron found much of the support that won him the presidency in 2017 and again in 2022. He hoped that would strengthen his presidency during his remaining three years in office.

But instead of rallying behind him, millions of voters used his surprise decision as an opportunity to vent their anger.

In the first round of voting last weekend, voters backed National Rally candidates in larger numbers than they did in the European Parliament elections. The coalition of left-wing parties came in second, while its centrist alliance came in a distant third.

The sharp polarization of French politics—especially in this frenetic and fast-paced campaign—is sure to complicate any coalition-building effort. Racism and anti-Semitism The election campaign was spoiled, in addition to Russian disinformation campaignsMore than 50 candidates reported physical attacks — unusual in France. The government said it had deployed 30,000 police for Sunday’s runoff — underscoring the high stakes and fears that a far-right victory, or even no clear victory, could spark protests.

Any cohesive majority may be vulnerable to weakness and fragility, and vulnerable to votes of no confidence that may lead to its downfall.

The continued instability could fuel suggestions from his opponents that Macron cut short his second and final term. The French constitution bars him from dissolving parliament again in the next 12 months, ruling out the possibility that this would be a way to give France greater clarity.

Leave A Reply

Your email address will not be published.