politicsClosed Jun 30, 2024
Le Pen Opponents Maneuver to Block Far-Right in Runoff
- President Macron called the parliamentary vote after a poor showing in European Union polls.
- Results indicate Macron will have to share governing responsibilities with Marine Le Pen’s far-right group.
- Many of the 577 districts will now go to a runoff on July 7.
- The leftist group is set to seek alliances in the second round to try and block Le Pen.
- The euro is a little higher in thin trade early in Sydney.
Marine Le Pen speaks following voting during the first round of legislative elections in Henin-Beaumont on June 30.
Photographer: Cyril Marcilhacy/BloombergHere are the Key Takeaways from the first round of voting in France’s legislative election:
- Marine Le Pen’s National Rally and her allies are on track to finish first in a major setback for President Emmanuel Macron
- The far-right alliance could win control of the country’s government for the first time in modern French history
- Although seat projections put Le Pen’s group in first place, the range is quite wide andit’s not at all clearwhether it will win enough to get a majority
- Market reaction was muted, with the euro quoted marginally higher against the dollar as currency markets opened in Asia
- The crucial question is which partiescome together behind a single candidate against the National Rally in runoffs in a week’s time
- Le Pen’s group is projected to get 33%-34% of the first-round vote,a bit worse than final pollsindicated on Friday
- Macron’s group is forecast to get around 22% of the vote,slightly better than polls suggested, while the leftist New Popular Front came in second at around 29%, in line with expectations
