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CNN —French prosecutors have asked for prison time and a five-year ban from politics for far-right leader Marine Le Pen, potentially derailing her bid to become president in 2027. The prosecution also asked that the RN should be fined €2 million ($2.1 million) and Le Pen herself €300,000 ($316,000). Le Pen outside the courtroom on November 13, 2024. “Fighting Madame Le Pen is done at the ballot box, not elsewhere,” Darmanin added. The General Assembly, the French Parliament, holds a question time session on November 12.
Persons: CNN —, Marine Le, Le Pen, Pen, Geoffroy van der, , ” Patrick Maisonneuve, , Let’s, ” Maisonneuve, Matteo Salvini, , Gerald Darmanin, ” Darmanin, France’s, Andrea Savorani Neri, NurPhoto, François Hollande, Nicolas Sarkozy, Emmanuel Macron, Macron, Le Pen’s Organizations: CNN, , Getty, National, General Assembly, Front Locations: France, Paris, Geoffroy van der Hasselt, AFP, French
French Prime Minister Michel Barnier (C) ahead of his general policy statement to the French National Assembly in Paris on October 1, 2024. The budget is being widely previewed as an "austerity" budget that will see the government of new Prime Minister Michel Barnier present tax-hiking and cost-cutting measures that could rile opposition parties on both the left and right, and even the centrists that put him in power. In sum, Barnier's government is a fragile one and vulnerable to predatory challenges from the left and right of the political spectrum. But such a large dose of austerity may make even 1.1% growth difficult to achieve," he said in emailed analysis. "Finally, even if the budget is passed and does not dent economic growth too much, France's fiscal position would still be precarious.
Persons: Michel Barnier, Alain Jocard, Barnier, Antoine Armand, France's, , La France Insoumise, Remon Haazen, Emmanuel Macron, Macron, Andrew Kenningham, Kenningham, Marine Le Pen, Carsten Nickel, Nickel, Tom Weller, voigt, Benoit Tessier Organizations: French, French National Assembly, EU, Afp, Getty, National Assembly, Finance, European Commission, Republique, La, Populaire, Capital Economics, Republicans, Stade de France, Olympic Games Locations: Paris, France, La France, Europe, French
Le Pen, whose party has softened its anti-EU stance in recent years, denies wrongdoing and claims the case is politically driven. Le Pen was runner-up to Macron in the 2017 and 2022 presidential elections. This figure corresponds to the 3.7 million euros allegedly defrauded through the scheme, minus the 1 million euros already paid back. At the time, the party was also indebted to a Russian bank for 9.4 million euros, a loan taken out in 2014 for 6 million euros. That was decided by Marine Le Pen and others.
Persons: Marine Le Pen, Le Pen, , Le Pen’s, Emmanuel Macron, Pen, Le, Patrick Maisonneuve, Martin Schulz, Schulz, Alexandre Varault, Alain Jocard, Pen’s, Thierry Légier, Jean, Marie, Légier, Marie Le Pen, Organizations: Paris AP, National Rally, centrists, French National Assembly, National, Associated Press, Getty, National Front, Socialists Locations: Paris, France, AFP, Russian
The FPÖ is known as the grandfather of European far-right parties and pedals an anti-migrant, anti-Islam, Eurosceptic and anti-vaxx agenda. It has held power at a federal level three times, in coalition with other groupings, making it one of just a few far-right parties in Europe to have done so. AFP/Getty ImagesIts political stance changed again when Jörg Haider – the son of former Nazi party members – became leader of the party in 1986. FPÖ leader Herbert Kickl speaks to supporters ahead of European parliamentary elections on June 7. According to Reinhard, the FPÖ is more likely to form a government if it comes second than if it comes first.
Persons: , ” Benjamin Biard, FPÖ, ” Biard, , , Biard, Heinz, Christian Strache, Jörg Haider –, Haider, , Herbert Kickl, Taylor, “ remigration, Christian Bruna, Viktor Orban –, Vladimir Putin’s, Kickl, ” Heinisch Reinhardt, Reinhardt, Karl Nehammer, Thomas Kronsteiner, Reinhard, ” Reinhard Organizations: CNN, Party, Italian Lega, Dutch Party for Freedom, , Getty, Nazi, Austrian People’s Party, EU, Hungary’s Fidesz, Greens, University of Salzburg, Social Democrats Locations: Austria, Europe, Brussels, Flemish, Italian, Germany, Nazi, Austrian, Salzburg, AFP, Ukraine, Vienna, Lower Austria, Russia, loggerheads, ÖVP
At risk of collapsing before the year is out, the new lineup will have to do a delicate dance with the far right in order to survive. By pandering to the right, Macron hopes his government can safeguard his legacy after the left pledged to repeal some of his key policies, such as controversial pension reforms. New faces include veteran conservative Bruno Retailleau at the interior ministry whose hardline stance on immigration appeals to the far right. The president – a former left-wing minister – is now beholden to the support of the far right. Yet in this summer’s snap election, they are the very group Macron tried to keep out of government through his party’s “cordon sanitaire” voting alliance with France’s left.
Persons: Emmanuel, Macron, Michel Barnier, Barnier, Bruno Retailleau, Dimitar Dilkoff, Jean, Luc Melenchon, Jordan Bardella, , , France’s Organizations: Paris CNN —, Front, National, Getty Locations: Paris, AFP
"We estimate that Brent could fall to roughly $50 per barrel in a moderate [U.S.] recession … We have a fairly benign view on the global economy," Struyven said during the conference. en Luckock global head of oil at Trafigura"Things are slowing down. Trading Giant Trafigura raised concerns about China's weak demand, and the global oil consumption tied to it. China's slowdown has spurred some to scour for alternative oil demand drivers, with a few eyeing India as a potential candidate. India is the third largest consumer of oil at around 5 million barrels of oil per day, 5% of the world's oil consumption.
Persons: Andrey Rudakov, Goldman Sachs, Brent, Struyven, Torbjörn Törnqvist, Ben Luckock, we're, Bing Chen, Gunvor Organizations: Tuapsinsky, Rosneft Oil, Bloomberg, Getty, Global Commodities, Daan, CNBC, Global, Brent, U.S, West Texas Locations: Tuapse, Russia, China, U.S, Ukraine, India, Japan, Germany, Hong
Macron said it was “in light of these principles” that he will decide on the appointment of France’s next prime minister. The NFP won 182 seats in the National Assembly, making it the largest group in the 577-seat parliament. In a victory speech Sunday evening near Stalingrad Square in Paris, he said Macron “has the duty” to ask the NFP to form a government. Jean-Luc Mélenchon (right), leader of the far-left France Unbowed party, celebrates the second-round results at a rally in Paris, July 7, 2024. French Prime Minister Gabriel Attal’s offer to resign was on Monday rejected by Macron, leaving him in place in a caretaker role until the new government is formed.
Persons: Emmanuel Macron, Macron, Marine Le, , France’s, Jean, Luc Mélenchon, France Unbowed, Mélenchon, Macron “, Thomas Padilla, Gabriel Attal’s, ” Macron Organizations: CNN, National Assembly, Marine, Front, NFP, Ensemble, France Unbowed, Socialist, AP, Macron, Olympic Locations: gridlock, Sunday’s, France, Stalingrad, Paris, Italy, Germany
French President Emmanuel Macron broke his silence on the political earthquake that took place in France last weekend, calling on mainstream parties to work together to form a coalition government. In an open letter to regional newspapers on Wednesday, Macron said "no one won" the parliamentary election and called on mainstream parties with "republican values" to form a governing alliance. With just 180 seats, the NFP fell short of achieving an absolute majority of 289 in the 577-seat National Assembly, France's lower house of parliament. Macron's centrist 'Together' bloc came second in the ballot with 163 seats, and RN and its allies won 143 seats. They can reject the nomination of a party, if it's not seen to have enough seats to form a stable government.
Persons: Emmanuel Macron, Macron, France's, That's, Luc Mélenchon —, it's Organizations: CNBC, Front, NFP, National Assembly, French Communist Party, Socialist Party, Greens, France Unbowed Locations: France, Le Touquet
President Emmanuel Macron’s centrist Ensemble alliance came in second, preventing the far right from taking power. The stakes couldn’t have been higher, and it is hard to overstate the sense of urgency with which French voters flocked to the polls. It ought to be noted, however, that under half of centrist voters went for the left in a run-off against the far right. Many had assumed that it was a foregone conclusion that the far right would win a majority, absolute or otherwise. On all those occasions, and again last week, many held their noses and voted for the center to keep the far right in check.
Persons: Marie Le Conte, Read, , Emmanuel Macron’s, who’d, Le Pen Organizations: CNN, Front, Greens, Ensemble, National Assembly, Rassemblement, Twitter, Facebook Locations: French, Moroccan, London, British, Vichy, France
Anadolu | Anadolu | Getty ImagesGovernment bond markets in France saw some selling early on Monday, but were fairly muted overall despite political gridlock after a second round of legislative elections. Jitters have spread through France's bond market in recent weeks. The 10-year yield topped 3.3% — a roughly 8-month high — after French President Emmanuel Macron called the snap parliamentary election in the middle of June. Meanwhile, the gap (or spread) between French bond yields and German bond yields had topped 85 basis points in recent weeks, hitting its highest level since 2012. He added that the chances of a confrontation with Brussels remained with the left-wing alliance, but not to the same extent as if the National Rally had won.
Persons: Emmanuel Macron, Emmanuel Macron's, , David Roche, Digard, Kepler Cheuvreux Organizations: New, Republique, Anadolu, Getty, Government, European Commission, Sunday, Popular Front, Independent, National Rally, CNBC Locations: Paris, France, France's, London, Brussels
Macron had called for a new legislative nationwide vote in France after the country's far-right party made significant gains in the European Union election last month. The gamble that French President Emmanuel Macron took when he called a snap election has not paid off, according to Armin Steinbach, Jean Monnet professor of EU Law and economics at HEC Paris. Macron's centrist Ensemble bloc is set to make up the second-largest group in parliament, followed by the RN and its allies. Just because the far-right did not perform as they had hoped in this election does not mean they should be discounted for the presidential election in 2027, Steinbach added. "For today it's a loss for them, … but it doesn't tell us anything about the 2027 presidential election.
Persons: Macron, Steinbach, CNBC's Charlotte Reed, Emmanuel Macron, Armin Steinbach, Jean Monnet, Tina Fordham, CNBC's, Fordham, HEC's Steinbach Organizations: Popular Front, Interior Ministry, Union, EU Law, HEC Paris, Fordham Global Insight, European Union Locations: Paris, France, Steinbach
While a surge in support for the left-wing New Popular Front (NFP) coalition foiled Marine Le Pen’s far-right National Rally (RN) party, French politics is now more disordered than it was before the vote. The NFP won 182 seats in the National Assembly, making it the largest group in the 577-seat parliament. And the RN and its allies, despite leading the first round, won 143 seats. Does that mean the NFP “won” the election? Now, it is the largest bloc in the French parliament and could provide France with its next prime minister.
Persons: Emmanuel Macron, Le, , NFP “, Jordan Bardella, Le Pen, , ” Bardella, Kevin Coombs, Macron, Publique, – Jean, Luc Mélenchon, Raphael Glucksmann, Emmanuel Dunand, Éduoard Philippe, France’s, Brigitte Macron, Mohammed Badra, Gabriel Attal’s, France Unbowed, Mario Draghi, Benito Mussolini Organizations: CNN, Front, NFP, National Assembly, Ensemble, , Reuters, Socialists, Getty Locations: Vichy, France, Paris, AFP, Le Touquet, , Italy
Global elections in 2024: A guide in maps and charts
  + stars: | 2024-07-08 | by ( Lou Robinson | ) edition.cnn.com   time to read: +4 min
CNN —As the presidential race in the United States heats up, many other countries around the world are also conducting pivotal elections in 2024. Here’s a closer look at the countries holding elections, in maps and charts. The election took 44 days, with more than one million polling stations, and its voters represented about 12% of the world’s population. In recent European Parliament elections, far-right parties performed well — with the National Rally gaining seven seats — and were particularly popular with young people. In 2023, 76% of Americans aged 18 to 29 said that Biden, 81, is too old to run for president, according to an Associated Press-NORC Center for Public Affairs Research poll.
Persons: , Vladamir Putin, Putin, Masoud Pezeshkian, Saeed Jalili, Le, Emmanuel Macron’s, Ipsos Mori, Biden Organizations: CNN, International Foundation, Electoral Systems, Here’s, European Union, North America, Voters, Emmanuel Macron’s Ensemble, National Rally, Pew Research, Associated Press, NORC, for Public Affairs Research Locations: United States, India, North, Mexico, Latin America, Russian, Iran, Islamic Republic, Pakistan, Bangladesh, France
The euro slipped on Monday after projections from France's election pointed to a hung parliament amid an unexpectedly strong showing for a left-wing alliance, spawning fresh uncertainty over the country's fiscal outlook. The euro slipped on Monday after projections from France's election pointed to a hung parliament amid an unexpectedly strong showing for a left-wing alliance, spawning fresh uncertainty over the country's fiscal outlook. The yen headed for a third day of gains after rebounding from last week's nearly 38-year trough to the dollar. The euro was 0.06% lower at $1.0827, and earlier slid as much as 0.4% as investors weighed the consequences of a hung French parliament. The dollar slipped 0.07% to 160.70 yen, down from as high as 161.96 on Wednesday.
Persons: Sterling, Emmanuel Macron's, Chris Weston, Macron, Weston, bitcoin Organizations: Federal Reserve, Labour, Conservative, New Popular Front, Le, Traders Locations: Gox
One theory about why Macron called an election now is that France might soon have been forced to the polls anyway. When Macron was reelected as president in 2022, his party failed to win an outright majority in parliament. Another theory is that Macron is gambling he can defeat extremist parties by exposing them to government. Some argue Macron hoped that, by giving the RN time in government before, they would have time to prove disappointing to voters. Jordan Bardella has said he will refuse to govern a minority government, meaning France could be left in deadlock in a mess of Macron’s making.
Persons: Emmanuel Macron, Let’s, Macron, Jordan Bardella Organizations: Elysee Locations: France
A woman steps out of a polling booth prior to cast her vote in the first round of parliamentary elections in Le Touquet, northwestern France, on June 30, 2024. LONDON — France's left-wing New Popular Front coalition is set to unexpectedly win the most seats in the second round of the country's parliamentary election but fail to clinch an absolute majority, early data showed. By offering voters a starker choice and fewer candidates, RN's opponents hoped that the electorate would choose the non-RN candidate. The prime minister must leave," Jean-Luc Melenchon, leader of the France Unbowed party, said in a CNBC-translated social media update after the release of the early poll data. The final round of the election shows that voters, ultimately, have rejected Macron.
Persons: France's, France Unbowed, Ipsos, Emmanuel Macron's, , pollster Ipsos, Jean, Luc Melenchon, Macron, Melenchon, Macron's Organizations: LONDON, Popular Front, Socialists, CNBC, NFP, National Rally Locations: Le Touquet, France, Europe's
The newly-formed left-wing coalition, the New Popular Front (NFP), came second with 28%, while Macron’s Ensemble alliance trailed in a distant third with 21%. In the outgoing parliament, Macron’s alliance had only 250 seats, and so needed support from other parties to pass laws. In an attempt not to split the anti-far right vote, more than 200 candidates from Macron’s alliance and the NFP agreed to stand down in the second round. Whatever the result of Sunday’s vote, France seems set to endure a period of political chaos, with Macron unable to call another parliamentary election for at least a year. Jordan Bardella speaks at the RN headquarters in Paris after the first round of voting, June 30, 2024.
Persons: Emmanuel Macron, , Jordan Bardella, Bardella, Gerald Darmanin, Sarah Meyssonnier, Macron, Jean, Luc Melenchon, Raphael Gluckmann, Gabriel Attal, Macron’s Organizations: CNN — Voters, Front, NFP, National Assembly, Macron’s, France Unbowed, Melenchon Locations: France, Vichy, Paris, Europe, Brussels, Ukraine
CNN —In a surprise second-round result, the left-wing New Popular Front is projected to finish ahead of Marine Le Pen’s far-right party in French parliamentary elections, according to an IPSOS estimate. Despite leading after the first round of votes, the far-right National Rally (RN) was projected to win between 132 and 152 seats. But Sunday’s projection comes as a huge upset and shows French voters’ overwhelming desire to keep the far right from gaining power. After the first round, an unprecedented number of seats – over 300 – went to a three-way runoff between Ensemble, the NFP and the RN. By Tuesday, more than 200 centrist and left-wing candidates withdrew from the second round, in a bid to avoid splitting the vote.
Persons: Le, , Emmanuel Macron’s, Cheers, Luc Mélenchon, France Unbowed, ” Mélenchon, Bois de Vincennes, Jordan Bardella, Macron Organizations: CNN, NFP, Socialists, National Assembly, Ensemble Locations: France, Vichy, Paris, Stalingrad, Bois de
Francois Lo Presti | Afp | Getty ImagesFrench voters are heading to the polls on Sunday for the second and final round of voting in a snap parliamentary election. By offering voters a starker choice and fewer candidates, RN's opponents hope that the electorate will opt for the non-RN candidate. "For instance, former Prime Minister Edouard Philippe has said voters should vote neither for the RN nor candidates from the far-left France Unbowed (LFI) party. At the same time, current Prime Minister Gabriel Attal has called for everyone to vote against the RN." If the choice was between a far-left and far-right candidate, however, the picture was more nuanced, showing a split vote.
Persons: Francois Lo Presti, Emmanuel Macron's, Jordan Bardella, Antonio Barroso, Edouard Philippe, Gabriel Attal, Ifop, Teneo's Barroso, Harris, Emmanuel Macron, Xi Jinping, Mohammed Badra, Macron, Teneo, Julien De Rosa Organizations: French, Afp, Getty, National Assembly, Front, NFP, Le, Palais des Sports, Nurphoto, Research, Harris Interactive, Reuters, Republicans, Macron's, Chinese Business Council, National Locations: Henin, Beaumont, France, Paris, Franco, Marigny, Garches
What a hung parliament in France could mean for markets
  + stars: | 2024-07-07 | by ( Matt Clinch | ) www.cnbc.com   time to read: +4 min
Emmanuel Dunand | Afp | Getty ImagesInitial indications on Sunday evening for the French parliamentary run-off vote threw up some big surprises, leaving political commentators contemplating a "hung parliament" scenario that could prove challenging for both policymaking and financial markets. With none of the groups expected to hit the 289 seats needed for an absolute majority, gridlock could ensue over the coming weeks. The euro slipped about 0.3% against the U.S. dollar in thin trading on Sunday evening after the exit polls were released. "Regardless, uncertainty about the outlook for French policymaking is likely to be long-lasting," the analysts said. France is facing a challenging fiscal position, and the European Commission announced two weeks ago that it intended to place France under an Excessive Deficit Procedure due to its failure to keep its budget deficit within 3 percent of gross domestic product.
Persons: Emmanuel Dunand, France's, Emmanuel Macron's, policymaking, Jack Allen, Reynolds, Macron, David Roche Organizations: la Republique, Afp, Getty, Popular Front, Rassemblement National, U.S, Citi, Daiwa, European Commission, Capital Economics, Independent, National Rally Locations: France, la, Paris, Italy, Germany
France's Prime Minister Gabriel Attal gives a speech following the first results of the second round of France's legislative election at Matignon in Paris on July 7, 2024. French Prime Minister Gabriel Attal said he would submit his resignation on Monday, after early poll data showed his and French President Emmanuel Macron's centrist Ensemble party and its allies coming in second in the parliamentary runoff. Attal, who stepped in as France's youngest ever prime minister only in January, is unlikely to hold the country's second-highest position as part of the upcoming administration. Tonight, no absolute majority can be led by the extremes." In light of the run-off results, Attal set the scene for a period of transition for France's political landscape:"Ladies and gentlemen, this evening, a new era begins.
Persons: Gabriel Attal, Emmanuel Macron's, Attal, Jordan Bardella, Macron Organizations: France's, Popular, Republican, CNBC, Rassemblement National Locations: Matignon, Paris, France, Republic
The bloc brings together five different parties. Far-left France Unbowed and the Communist party has joined with the center-left parties, the socialists and the greens to form a New Popular Front. It’s equally hard to imagine how the current constellation would allow France to play an important role regarding Ukraine. The left has remained relatively quiet on Ukraine - different parties from the coalition have slightly different stances - France Unbowed is against what it calls “escalation” with Russia. Macron’s gamble may have prevented the far right from coming to power, but it could yet plunge the country into chaos.
Persons: CNN — “, Emmanuel Macron, France’s, Jordan Bardella, Macron, Le Pen, it’s Organizations: CNN, la Republique, NFP, France Unbowed, Communist, National Assembly Locations: la, Paris, France, Ukraine, Macron, Russia, Macron’s
Now, it looks set to win the most seats in the French parliament and could provide France with its next prime minister. The NFP is made up of several parties: the far-left France Unbowed party; the more moderate Socialist Party; the green Ecologist party; the French Communist Party; the center-left Place Publique, and other small parties. Going into the second round, it was not clear who the coalition would nominate to be its prime minister. Its most prominent – and divisive – figure is Jean-Luc Mélenchon, a 72-year-old populist firebrand and longtime leader of the France Unbowed party. Announcing his intention to resign Monday as prime minister, Gabriel Attal said, in an apparent swipe to France Unbowed: “No absolute majority can be led by the extremes.
Persons: Emmanuel Macron, , Olivier Faure, , Emmanuel Dunand, Jean, Luc Mélenchon, France Unbowed, Gabriel Attal, Faure, Louise Delmotte, , Macron Organizations: CNN, Front, NFP, Socialist Party, Ecologist, French Communist Party, Vichy, Getty, Macron’s, Ifop, Parliament, Hamas Locations: France, Paris, AFP, , Republic, Republique, Palestinian, Israel, Gaza
Prime Minister Gabriel Attal has said French voters now have a "moral duty" to halt the party's advance. The officer — a father of three who's in his 40s, and a right-leaning voter — said the polarization in French society was "very worrying, but unfortunately normal with the 'diversity' of our society." The police officer said he expected civil unrest after the vote, whichever party gained the most votes. "There will be civil unrest whoever is elected, this is France and the people speak their mind." Civil unrest possiblePolitical experts agree that the current febrile atmosphere of French politics, and antagonism between the main bodies of voters, are the ingredients for further civil unrest.
Persons: that's, Emmanuel Macron, Macron, Gabriel Attal, Amel, Sebastien Salom, Gérald Darmanin, , You've, Philippe Marlière, you've, Marlière, Jordan Bardella, Bardella, Ifop Organizations: la Republique, Nurphoto, CNBC, Front, Left, Afp, Getty, Republican, France's, Republique, Rassemblement, Anadolu, University College London, National Assembly, National, NATO, Le, Palais des Sports Locations: la, Paris, France's, France, Nantes, gomis, de, Bordeaux, Europe, Ukraine
Le Pen: Mbappé not representativeLe Pen directed most of her ire closer to home. “I’m not contesting the existence of these comments,” Le Pen said, referring to the accusations levelled against her candidates. Top of the list of sensitivities is likely to be foreign policy, where Le Pen and Macron rarely see eye to eye. Many held similar suspicions ahead of the election of hard-right culture warrior Italian Prime Minister Giorgia Meloni in 2022. “It’s a form of interference, and in that sense, I find it unacceptable,” Le Pen said of the post.
Persons: Emmanuel Macron’s, Emmanuel Macron, , CNN’s Christiane Amanpour, Kylian Mbappé, Le Pen, Macron, Le, Jordan Bardella, CAESAR, Roman Pilpey, Pen, Mbappé, , ” Mbappé, “ It’s, Kylian, Franck Fife, ” Le Pen, Bardella, CNN Le, Florent de Kersauson, Daniel Grenon, Grenon, “ I’m, “ That’s, Francois Lo Presti, Vladimir Putin, She’s, Putin, Giorgia Meloni, she’s Organizations: Paris CNN —, CNN, Macron, soccer side’s, Ukraine, National Rally, National Assembly, National, 55th Artillery Brigade, Getty, CNN Le Pen’s, BFMTV, Kyiv, Locations: Ukraine, Russia, France’s, Donetsk, AFP, Washington, Kyiv, France, Paris, Hamburg, Germany, Algeria, Cameroon, United States, Brittany, , , Henin, Beaumont, Brussels, Crimea, 2014, Russian, Italian, There’s, Moscow
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