The left-wing French have stated their intention to take over the government, but they have also admitted that negotiations would be difficult and time-consuming.
President Emmanuel Macron called a snap election on Sunday, but Marine Le Pen’s National Rally (RN) was unable to secure victory, therefore halting the rise of the far right. A time of instability and potential impasse ensued as the communist New Popular Front (NFP) alliance emerged as the top contender, although they were far from having a majority.
The number of NFP members needed to form an absolute majority is 289; however, there is no clear leader inside the party.
Parliament was divided into three factions after the RN finished third and Macron’s centrists second. Considering the election results, the President of the Republic must request that the NFP head the government.
After weeks of predictions that it would win, Le Pen’s RN’s outcome was disappointing. While RN leader Jordan Bardella admitted that the party had erred in its candidate selection and other areas, he was adamant that Sunday’s election had set the stage for the far right to win in the future.
Implementing domestic policies in a disjointed parliament will be difficult, which would also reduce France’s influence in the EU and beyond. A financial crisis and the subsequent economic collapse in France pose the greatest threat right now.
Leftists didn’t seem to agree on essential issues, such as whether the bloc should reach out to other groups for support, like Macron’s centrists. A coalition with centrists is out of the question, according to Jean-Luc Melenchon, the controversial fiery leader of France Unbowed.
Financial markets had a poor impression of the NFP’s agenda prior to the election because, if enacted, it would put further pressure on France’s already-strapped state finances.
Some voters were okay with a three-way parliament despite the unknowns.
However, Monday saw a 0.4% decline in the value of the euro as investors weighed the unknowns.
While Macron has accomplished much of his agenda—including raising the pension age, sparking mass protests, and passing a contentious immigration bill—he will likely not be able to continue driving policy until his tenure ends in 2027.
