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Banks Pull Back From Funding French Politics

  • French banks shying away from campaigns despite limited risk
  • Macron’s LREM has lead -- and lion’s share of public funding
Emmanuel Macron

Emmanuel Macron

Photographer: Jasper Juinen/Bloomberg

The money has always followed the power in French politics, as the party in office has built-in advantages for financing campaigns. Now, that gap is widening, with banks becoming more reluctant to make up the shortfall.

As he prepares for European Parliament elections in May, President Emmanuel Macron has a two-part edge: free airtime from a series of public debates and enough money to fund his party’s activities. Cash-strapped rivals are begging for donations and relying on volunteers.