Macron Gambles on Snap French Election in Bid to Stop Le Pen
- Le Pen beats Macron’s party by about 16 points in EU poll
- French bonds, stocks fall after parliamentary elections called
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After a crushing defeat in the European Parliament election on Sunday, President Emmanuel Macron plunged France into political uncertainty with a snap legislative ballot that re-stages his perennial battle with far-right rival, Marine Le Pen.
While Macron’s position as head of state won’t be directly affected by the upcoming vote, his ability to push through legislation, the power to choose a like-minded prime minister and the credibility of his political project will all be on the line in an election that Sunday’s results suggest he’ll likely lose.