The far-right National Rally party in France, led by Marine Le Pen, was expected to come out on top in the parliamentary election but an exit poll suggested a surprising loss. As a result, protests broke out in Paris, with images showing clashes with police. The euro also saw a drop in value as the projections point to a hung parliament and uncertainties over market volatility. Analysts predict that the markets will be relieved by the third-place forecast for the far-right party.
President Emmanuel Macron's surprise call for a snap election in the wake of a bruising defeat to far-right candidate Marine Le Pen has sent shockwaves through France. The upcoming legislative vote, set to take place just weeks before the Paris Olympics, is being hailed as the most consequential in the country's history. By taking a risky political gamble, Macron hopes to regain the upper hand and keep the far-right at bay. Meanwhile, analysts predict a fierce showdown between Macron's dwindling popularity and the rising strength of the RN.
The French President Emmanuel Macron has chosen Gabriel Attal as the new Prime Minister of France, making him the youngest and first openly gay person to hold the position. He replaces Elisabeth Borne, who resigned along with the rest of the government after serving less than two years. Attal's appointment is seen as a strategic move ahead of the upcoming Olympic Games and European Parliament elections, where Macron's centrist party faces opposition from the far-right under Marine Le Pen. This is expected to be part of a larger cabinet reshuffle aimed at strengthening the last three years of Macron's presidency.