After the dissolution, will France remain a reliable economic partner?

The results of the European elections have caused a political earthquake whose repercussions will inevitably be felt on the economy. If the strong surge from the far right and the National Rally (RN) was expected, President Macron’s announcement of early legislative elections was not.

The result is deep uncertainty: over the nature of the next French government and, in the meantime, over the ability of the euro zone’s second-largest economy to remain a reliable partner on the European scene – at a time when it would be good to collaborate closely to reach agreements, particularly in the areas of arms and trade.

Numerous paralysis in the country

Monday (June 10), if investors and financial markets were not left stunned, the nervousness about the political future of France was as obvious as it was legitimate. The fragmentation of society and parties is already a source of numerous paralysis in the country. There is no consensus on the right level of immigration and successive crises – “yellow vests”, pandemic, farmers, explosion in energy costs – have only been able to be calmed with a lot of subsidies, pushing public debt to unprecedented heights.

Economic circles still view Emmanuel Macron favorably, he who adopted important reforms and undoubtedly demonstrated more foresight than the German government, which is so deeply narrow-minded. Support for the ideas of the National Rally (RN) remains low among business leaders. But Macron is no longer the liberal, pro-globalization modernizer he was in 2017.

While France leads in public spending at the European level, some voices, including in Macron’s camp, are calling for increasing taxes to fill these ever-yawning deficits; we practice state interventionism and we put forward diffuse concepts like “national sovereignty” rather than free trade. These developments are already worrying enough not to be compounded by the specter of a Prime Minister from the extreme right.

Article source

Frankfurter Allgemeine Zeitung (Frankfurt)

Founded in 1949 and led by a team of five directors, the FAZ, major conservative and liberal daily, is a reference tool in German business and intellectual circles. More than 300 editors and 40 foreign correspondents participate in its development, which makes it largely independent of press agencies.

She has long stood out for her refusal of color and image. In 2007 the image of one appeared for the first time. Considered the largest daily newspaper in Germany, it is in line with major English-language titles such as The New York Times and the Financial Times. An important place is given to the processing of international and economic information.

Complete site with a pleasant layout with classic sections, themed forums and files (with paid access). In addition to its main site, which includes articles from the paper version, the newspaper also offers content in English.

Read more

Our services

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button