Macron Victory Not Yet a Win for Globalization or Economic Reform

Bruno Cirelli
Mag 23, 2017

His nascent political movement En Marche! has no MPs, meaning he has to win a parliamentary majority from scratch in the elections in June - an outcome far from guaranteed despite his decisive presidential win, much of which can be attributed to voters uniting behind Macron to keep Le Pen out.

The man compiling the candidate list of the Republic on the Move party told Reuters the announcement would probably fall a hundred or so short of the 577 names needed to fight every seat in France's National Assembly.

Guterres will write a letter to Macron to congratulate him and propose a meeting "in the very near future", said United Nations spokesman Stephane Dujarric, adding: "We look forward to rapid engagement". But a high number of blank or spoiled votes and unusually low turnout are signs of an electorate dissatisfied with its choices.

Macron's "Republique en Marche" (Republic on the Move) movement, which has been keeping its distance from the political old guard, reacted warily to the announcement.

The ramifications of Macron's victory were also reverberating through Le Pen's National Front (FN), with the announcement that her influential niece Marion Marechal-Le Pen is quitting politics - for now.

The former prime minister wants to run under the centrist president-elect's banner in the legislative elections.

The Socialists, whose term in government comes to an end in tandem with the departure of President Francois Hollande, have traditionally disputed power with the centre-right for the past half century.

The president-elect is left-leaning - a one-time Socialist party member - and was a senior advisor to Hollande and an economy minister in his government 2014-2016. Before the election, Nature polled thousands of French scientists and, of the 173 respondents, most supported Macron with "with nearly no support for Le Pen", Nature reported April 20.

Le Pen told party backers that the National Front party would undergo a "profound transformation" following the loss. She said she would hold a referendum on European Union membership within six months and cut immigration to no more than 10,000 people. His opponent the 48-year-old Marine Le Pen campaigned against the European Union [EU], against immigration and against Islam, blaming the three for everything wrong with France.

The party's first secretary Jean-Christophe Cambadélis said "a procedure is ongoing". In his first day following his election, he attended a commemoration for when his country massacred 50,000 Algerians in one day.

Sylvie Goulard, a French deputy to the European Parliament, said Macron would make Berlin his first official visit, with perhaps a stop to see French troops stationed overseas as well.

On the financial front, European stock markets edged down in early trading as investors had been widely expecting Macron's victory.

It last slipped 0.2% to $1.0975 against the dollar, and to 123.76 yen, also down 0.2%.

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