French Snap Elections: Macron’s Surprise Move Shakes Europe

Background

On June 9, 2024, following significant nationalist and far-right gains in the European parliamentary elections, French President Emmanuel Macron announced the dissolution of the National Assembly and called for snap legislative elections. This decision came after Marine Le Pen’s National Rally outperformed Macron’s Renaissance party, sending shockwaves through France and the broader European political landscape.

What is happening now

The first round of the French parliamentary elections is scheduled for June 30, with the second round to follow on July 7. Macron’s move is seen as a high-stakes gamble aimed at confronting the growing influence of the far right, as well as responding to widespread discontent with his government. Political parties across the spectrum are now rapidly mobilising for an intense campaign period.

• National Rally currently leads in opinion polls
• Macron’s centrist alliance faces internal and external pressure
• Markets and European leaders are closely watching developments

Impact on Switzerland

Switzerland, as France’s neighbour and a close economic partner, is monitoring the unfolding situation closely. Political uncertainty in France could impact bilateral initiatives, cross-border workers, and economic stability in the region. Swiss financial markets have already shown increased volatility in response to the news. Additionally, any major shift in France’s EU policy could affect Swiss-EU negotiations and agreements.

What happens next

The upcoming elections will determine the composition of France’s legislative body and the immediate future of Macron’s presidency. If the far right secures a majority, it could lead to major policy shifts not only in France but across the continent. For Switzerland, the results may reshape diplomatic dynamics and economic forecasts, with business leaders and policymakers preparing for multiple scenarios. Close observation will continue as the election dates approach and more polling data emerges.