- Analytics
- News and Tools
- Market News
- French Election: Macron loses control of National Assembly in 'democratic shock'
French Election: Macron loses control of National Assembly in 'democratic shock'
French President Emmanuel Macron suffered a major setback after he lost control of the National Assembly in legislative elections on Sunday. His defeat threatens the country’s political stability.
Initial projections by pollsters Ifop, OpinionWay, Elabe and Ipsos showed Macron's Ensemble alliance winning 230-250 seats, the left-wing Nupes alliance securing 141-175 and Les Republicains 60-75.
Finance Minister Bruno Le Maire called the outcome a "democratic shock" and added that if other blocs did not cooperate, "this would block our capacity to reform and protect the French."
Meanwhile, Prime Minister Elisabeth Borne said, “the result is a risk for our country in view of the challenges we have to face," adding that from Monday on, Macron's camp will work to seek alliances.
Market reaction
Amid looming recession fears, the French election disappointment also keeps the euro under check. At the time of writing, EUR/USD is trading around 1.0500, almost unchanged on the day.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
