, EmmanuelMacron became the first president in decades to fail to garner an absolute majority in parliament, falling short of the 289-seat threshold. Moneyweb Elections Parliament
President Emmanuel Macron made history in the French legislative elections on Sunday, just not in the way he hoped. The 44-year-old centrist became the first president in decades to fail to garner an absolute majority in parliament, falling short of the 289-seat threshold. His alliance, however, will still remain the largest bloc.
While Nupes is unlikely to implement its economic program, which includes higher wages and cutting work hours on the back of massive public spending, the coalition will gain influence on parliamentary and public debates. At a time of climbing interest rates around the world, it has “the potential to undermine investor confidence in the French fiscal outlook,” according to Bloomberg Intelligence analyst Maeva Cousin.
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