Far-Right National Rally Party Wins 34% of Votes in France's Legislative Election: Implications for France and Europe

Paris, France, Ile-de-France, France France
Left-wing New Popular Front coalition trailed behind with about 29%.
Le Pen called for French citizens to vote for her party in the second round.
Macron emphasized the importance of standing up to the far right and reiterated his call for a high voter turnout.
Marine Le Pen's far-right National Rally party won 34% of votes in France's legislative election.
President Emmanuel Macron's centrist Ensemble alliance secured approximately 20.5% of the votes.
Far-Right National Rally Party Wins 34% of Votes in France's Legislative Election: Implications for France and Europe

In a stunning development, Marine Le Pen's far-right National Rally party emerged as the frontrunner in France's legislative election, garnering close to 34% of the votes in the first round. This marks a significant victory for Le Pen and her party, although they do not yet hold an absolute majority in the parliament. In response to these results, President Emmanuel Macron's centrist Ensemble alliance secured approximately 20.5% of the votes, while the left-wing New Popular Front coalition trailed behind with about 29%.

Le Pen called on French citizens to vote for her party in the second round of elections. Despite his defeat, Macron emphasized the importance of standing up to the far right and reiterated his call for a high voter turnout in the second round. The outcome of this election has sent ripples across Europe, with reactions from politicians both domestically and abroad.

The far-right victory in France has raised concerns among investors, who are closely monitoring the situation. The French budget deficit and debt to GDP ratio have been major points of contention during the campaign. The CAC 40 index, French banks, Crédit Agricole, Société Générale, and euro risk spreads have all been impacted by the election results. As the situation unfolds, it remains to be seen how this new political landscape will affect France's domestic and international relations.

In a related development, Hungary's Prime Minister Viktor Orban expressed optimism following RN's first-round result and welcomed changes in Brussels. Italian Prime Minister Giorgia Meloni also voiced her support for the far-right party, while opposition and Labour Party leader Keir Starmer urged for unity among left-wing parties. Polish Prime Minister Donald Tusk has called for a united response to the far-right threat.

As France awaits the results of the second round of voting, it is clear that this election will have significant implications not only for France but also for Europe as a whole.



Confidence

95%

No Doubts Found At Time Of Publication

Sources

95%

  • Unique Points
    • Marine Le Pen called on French citizens to vote for her party during the second round.
    • Orban expressed optimism following RN’s first-round result and welcomed change in Brussels.
  • Accuracy
    • Marine Le Pen and her far-right National Rally (RN) won close to 34 percent of the votes in the first round of France’s parliamentary election.
    • Marie Le Pen stated that her party ‘practically wiped out the Macron bloc’ after speaking to supporters in Northern France.
    • The focus will turn to whether the National Rally can garner enough support in the second round of voting next Sunday to get an absolute majority in the National Assembly.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

96%

  • Unique Points
    • Marie Le Pen's National Rally is projected to get between 33% and 34.2% of the votes in the first round of France’s legislative election.
    • Marine Le Pen stated that her party ‘practically wiped out the Macron bloc’ after speaking to supporters in Northern France.
  • Accuracy
    • Macron released a statement calling for ‘a broad, clearly democratic and republican alliance for the second round.’
    • Bardella has said he would only accept becoming prime minister if his party won an absolute majority.
    • Some of the National Rally’s proposals, such as renegotiating the EU’s electricity market pricing and reducing France’s contribution to the EU budget, could cause problems with the European Union.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

95%

  • Unique Points
    • France's far right is on the verge of taking power in France for the first time since the Second World War
    • President Emmanuel Macron's party lost badly in a snap election
  • Accuracy
    • France’s far right takes lead in 1st round of parliamentary elections
    • Marine Le Pen and her far-right National Rally (RN) won close to 34 percent of the votes in the first round of France’s parliamentary election.
    • Marie Le Pen's National Rally is projected to get between 33% and 34.2% of the votes in the first round of France’s legislative election.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (0%)
    None Found At Time Of Publication

91%

  • Unique Points
    • Marine Le Pen's far-right National Rally won the first round of the French election with 33% of the votes.
    • The left-wing New Popular Front came in second place with 28% of the votes.
  • Accuracy
    • President Emmanuel Macron’s centrist bloc received 20% of the votes.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (80%)
    The author makes an appeal to authority by referencing Holger Schmieding, the chief economist at Germany's Berenberg investment bank. He also uses inflammatory rhetoric when describing the potential outcomes of a Marine Le Pen victory and the impact on investors.
    • Investors signalled that a hung parliament is the least awful option, if only because it would deny the RN the ability to make good on its unfunded spending pledges.
    • The next week will see a flurry of horse-trading among the parties on the left and right and the centrists, where many third-place candidates from the first round will be dropped to consolidate the pro- or anti-RN votes.
    • But would they open the spending spigots to the point that investors flee and credit-rating agencies downgrade French debt to junk? That seems unlikely.
  • Bias (95%)
    The author expresses a bias towards the financial markets and investors, implying that a hung parliament is the least awful option for them. He also mentions that an RN victory would not be an outright disaster for the French economy or financial markets.
    • At the same time, it would reduce the chances that the party, with deep Euroskeptic roots, would risk opening an anti-Brussels assault like the one that sent Britain bolting from the European Union – Brexit – four years ago.
      • Global investors can turn nasty fast and, if they do, Ms. Le Pen’s star could fade as fast as Mr. Macron’s did.
        • Investors were pleased by the outcome. But to say that the relief rally will endure would be wildly premature.
          • My own view is that an outright RN victory in the run-off, while seemingly less likely today, is still possible.
          • Site Conflicts Of Interest (100%)
            None Found At Time Of Publication
          • Author Conflicts Of Interest (100%)
            None Found At Time Of Publication