Euro edges up on win by French moderate Macron

Olive Rios
May 8, 2017

French centrist and pro-trade leader Emmanuel Macron on Sunday, May 7, was elected the next president of France in the run-off with far-right leader Marine Le Pen.

Jeremy Corbyn tweeted that he was "delighted that the French people have decisively rejected Le Pen's politics of hate".

Japanese shares ended higher Monday in the wake of Emmanuel Macron's victory in the final round of the French presidential election.

"I know the divisions in our nation, which have led some to vote for the extremes. It's my responsibility to hear them", he said.

Le Pen, on the other hand, focused on high-spending, anti-globalisation "France-first" policies.

Seibert said that Merkel congratulated Macron in phone call in which she "praised his stance for a united and open European Union during the campaign" and told Macron that "the decision of the French voters is a clear statement of support for Europe". If the new French president fails to deliver on his promises by the next election in 2022, Le Pen or another anti-EU leader may return stronger than ever.

Macron supports free markets, wants to cut corporation tax from 33 to 25 per cent and wants to reform the European Union while keeping French borders open.

With her fighting spirit, the 48-year-old Le Pen, a lawyer turned politician, resembles her father, who wrenched from a court the right to continue as honorary president for life of the party, even though he was expelled. His improbable path to victory has been extraordinary in that it included dispatching France's two major political parties, the Socialists and the Republicans.

Those are the main messages from Mr Macron's victory and they were reflected in the reactions from Europe on Sunday.

His startup political movement - optimistically named "En Marche!"

USA job growth rebounded sharply in April and the unemployment rate dropped to 4.4 percent, near a 10-year low, pointing to a tightening labor market that likely seals the case for an interest rate increase next month despite moderate wage growth.

But he is inexperienced, has no political party and must fashion a working parliamentary majority after legislative elections next month.

While Macron's win had been widely anticipated, the election had cast a long shadow over the continent as the defeated candidate, the far-right Marine Le Pen, had wanted France to exit the 28-nation European Union, with potentially catastrophic consequences for the region and its euro currency.

Le Pen said on Sunday that the National Front would be completely overhauled.

Despite losing to Macron by around 35 percent to 65, Le Pen did almost twice as well as her father did when he reached the second round of the election in 2002, but fell short of the 40 percent party officials had said would be a success.

Le Pen said she got 11 million votes. "I think Macron in the next five years will ignore these grievances and this anger at his own peril". According to Opinionway, only 38 percent of French people can name their member of parliament.

Early voting in overseas territories in the Pacific Ocean and some French embassies abroad will begin later Saturday.

Good morning EMEA! Asia risk-on post-Macron victory. The Le Pen campaign said administrators in several regions who receive ballot papers for both candidates have found the Le Pen ballots "systematically torn up".

Macron has had an uphill task so far, in no small portion because of the anti-immigrant sentiments in not only France but all over Europe.

On Wednesday, the candidates faced off in a gripping televised debate that ran two and a half hours without any commercial breaks.

A couple look at vandalized campaign posters of Marine Le Pen and Emmanuel Macron on April 18, 2017, in Paris. Both the news media and public opinion suggested Macron was the clear victor.

Other reports by Click Lancashire

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