French election: What does a surprise left wing alliance win over far-right mean for the economy?

The left-wing alliance, the New Popular Front, won 182 seats in the second round of voting while Emmanuel Macron’s Ensemble won 163 seats. Marine Le Pen’s National Rally won 143 seats. This spooked markets at first, with French bonds selling off after the results. The NFP has plans to increase annual public spending by 150bn Euros, including reversing Macron’s detested pension reforms and increasing public sector wages by 10 per cent. However, the NFP will not be able to govern if a majority in Parliament opposes its programme, so the most likely result is deadlock for weeks, if not months. Markets seem less concerned by the prospect of a stalemate. For more on the story 👇 https://www.cityam.com/french-election-markets-stabilise-after-shock-results-lead-to-stalemate/ Get more of City A.M. 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: http://www.linkedin.com/company/cityam