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French President emerges victorious with a majority of parliamentary seats

There was a low turn-out in the second round, with a record of around 43%.”However, with a record low voter turnout, the mandate for reform is not extremely strong for Mr. Macron who could hence endure strong civil opposition, especially to his labor and pension reforms”, Manceaux added. The victorious newcomers started arriving Monday at the National Assembly to learn their way around before the first parliament session next week.”I do not lose sight of the objective to create a group in the National Assembly during the next months, which will be a group where we will agree on two, tree subjects of principal, keeping at the same time our independence and peculiarities”, Le Pen said during a press conference in France’s northern Henin-Beaumont commune.The president of the extreme right party will be able to celebrate his victory in family, and even in couple, because his companion Louis Aliot will sit beside him in the National Assembly.Elliot Hentov, head of policy and research at State Street Global Advisers, called the result a “wholesale political revolution” although he cautioned Macron would encounter public hostility to his reforms.Turnout in the parliamentary elections were estimated to be extremely low, with a senior En Marche! official warning that high levels of abstention are bad news for democracy.Stocks across Europe leapt Monday, with French shares rising by the most in more than a month after French President Emmanuel Macron’s upstart party scored a majority in parliamentary elections on Sunday. Macron immediately reappointed the rightwinger and asked him to unveil a new government lineup by 6:00pm on Wednesday, sources in the president’s office said. That would truly be akin to a new French revolution.Of the 577 elected lawmakers, 308 were from the centrist LREM movement, making it France’s new ruling party for the next five years.Socialist leader Jean-Christophe Cambadelis admitted a “historic defeat” for his party and resigned from his post. Their campaign leader Francois Baroin could only wish Macron “good luck”.If confirmed, the victory will come at the expense of France’s traditional parties, the rightwing Republicans and Socialists, but also the far-right National Front which faces major disappointment.France’s Socialist Party and its allies are projected to win just 34 seats, a dramatic collapse from its previous haul of 277 seats.Reacting to the poor performance of the National Front, she argued against the French electoral system, demanding that proportional representation be introduced in order to better reflect the will of the people.Jean-Luc Melenchon’s far-left La France insoumise (Unbowed France) party and its Communist supporters are expected to hold 30 seats.