Friday, 28 July, 2017

Why Macron's Win Is Good for Europe's Worst-Off Banks

EmmanuelMacron Why Macron's Win Is Good for Europe's Worst-Off Banks
Freda Brock | 19 May, 2017, 21:40

Italian Prime Minister, Paolo Gentiloni, also said: "We congratulate Emmanuel Macron on his victory in the French presidential election".

Freshly elected to the French presidency, Emmanuel Macron now faces an equally hard Act II: securing the parliamentary majority he needs to make good on his campaign promises to lift France out of economic gloom.

Mr. Macron won the presidency with 66% of votes against his far-right rival Marine Le Pen's 34%, show the final numbers released by France's Interior Ministry.

India's relations with France transcend political parties and we would therefore wish Macron well and find all opportunities to strengthen ties with his government.

President Francois Hollande warmly greeted President-elect Macron in their first public meeting since the victory.

"Hurrah Macron President! There is hope for Europe!"

On the European Union, Macron is also an unashamed supporter, a standpoint likely to cost him votes on both the eurosceptic left and right.

The president-elect's camp had been critical of Moscow in the run-up to Sunday's vote.

In 2014, the National Front won 11 towns in municipal elections, and her party performed better than any in France in elections for the European Parliament, where she co-presides over a far-right group.

Esure Group PLC (ESUR) Rating Lowered to Equal Weight at Barclays PLC
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In early returns, Macron had won an estimated 65 percent of the vote to Le Pen's almost 35 percent, according to the French Interior Ministry.

Hollande, who launched Macron's political career by appointing him as an advisor before appointing him to the cabinet, greeted him warmly before they laid a wreath together under the Arc de Triomphe. Trump tweeted on Sunday that he looks forward to working with Macron.

Within minutes of Sunday's results, a defeated Le Pen sounded the charge for her next battle against the "globalist" Macron.

"Happy that the French chose a European future", he wrote.

"I will respect everyone in their beliefs, I will seek reconciliation because I want the unity of our people", Macron said. Symbolically, Macron also said German Chancellor Angela Merkel will be the first foreign leader he will meet as president.

The news agency, AFP, reported that prosecutors had launched an investigation. And he will have to do just that to secure a parliamentary majority in June for a one-year-old political movement that has never fielded candidates for election.

Republicans vice-president Laurent Wauquiez emphasised Macron's vulnerability, noting he had been a grudging choice of president for many voters, who backed him only to block Le Pen.

Mr. Macron will formally take over from Mr. Hollande on or before May 14.

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