Berliner Boersenzeitung - Macron's domestic travails to sap European leadership

EUR -
AED 4.095102
AFN 72.480008
ALL 90.801688
AMD 402.807486
ANG 1.995737
AOA 1023.635334
ARS 1721.721299
AUD 1.61933
AWG 2.007127
AZN 1.900047
BAM 1.955836
BBD 2.250342
BDT 139.162586
BGN 1.948955
BHD 0.422108
BIF 3342.96213
BMD 1.115071
BND 1.431727
BOB 13.402249
BRL 6.138357
BSD 1.117321
BTN 104.873949
BWP 15.391286
BYN 3.345962
BYR 21855.38619
BZD 2.247142
CAD 1.573644
CDF 2586.964483
CHF 0.914162
CLF 0.027822
CLP 1094.980351
CNY 7.444774
CNH 7.438418
COP 3608.76707
CRC 506.709417
CUC 1.115071
CUP 26.815498
CVE 110.267049
CZK 24.346956
DJF 198.963698
DKK 7.480457
DOP 67.891262
DZD 151.940824
EGP 59.957114
ERN 16.726061
ETB 183.378708
FJD 2.526309
FKP 0.834974
GBP 0.834166
GEL 2.893653
GGP 0.834974
GHS 13.055243
GIP 0.834974
GMD 83.077063
GNF 9896.183924
GTQ 8.538159
GYD 234.234353
HKD 8.744429
HNL 30.029558
HRK 7.547925
HTG 146.432722
HUF 363.51345
IDR 20192.258205
ILS 3.552538
IMP 0.834974
INR 104.716854
IQD 1693.83148
IRR 2108992.359359
ISK 136.919964
JEP 0.834974
JMD 177.323296
JOD 0.790629
JPY 176.710877
KES 145.192698
KGS 97.510486
KHR 4552.084602
KMF 492.86165
KPW 1003.563608
KRW 1520.737678
KWD 0.346765
KYD 0.931217
KZT 500.809308
LAK 25136.46717
LBP 100053.859534
LKR 371.556906
LRD 189.94353
LSL 18.477643
LTL 3.292514
LVL 0.674496
LYD 7.150133
MAD 10.921803
MDL 19.971371
MGA 5077.094359
MKD 61.556144
MMK 2341.587311
MNT 4015.514918
MOP 9.019368
MRU 45.108838
MUR 52.442198
MVR 17.176258
MWK 1937.436008
MXN 20.766565
MYR 4.528864
MZN 71.257178
NAD 18.477643
NGN 1502.23485
NIO 41.120764
NOK 10.548462
NPR 167.798119
NZD 2.015128
OMR 0.428348
PAB 1.117421
PEN 3.848972
PGK 5.092095
PHP 70.369926
PKR 309.016043
PLN 4.399568
PYG 6984.129802
QAR 4.084276
RON 5.343646
RSD 117.622186
RUB 91.352798
RWF 1649.13065
SAR 4.188587
SBD 8.974739
SCR 15.358485
SDG 670.719139
SEK 11.033072
SGD 1.430306
SHP 0.835103
SLE 25.591287
SLL 23382.48045
SOS 638.511867
SRD 41.908265
STD 23079.712667
STN 24.500455
SVC 9.776182
SYP 14498.149201
SZL 18.471343
THB 37.411034
TJS 10.307092
TMT 3.902748
TND 3.343362
TOP 2.684822
TRY 55.9111
TTD 7.577141
TWD 36.546782
TZS 2952.454872
UAH 50.616941
UGX 4570.084937
USD 1.115071
UYU 44.950835
UZS 13332.247784
VES 999.456181
VND 28526.296796
VUV 132.393741
WST 3.108622
XAF 655.957
XAG 0.021465
XAU 0.000274244363
XCD 3.013535
XCG 2.013637
XDR 0.788413
XOF 655.957
XPF 119.331742
YER 263.853652
ZAR 18.420333
ZMK 10036.978597
ZMW 22.703422
ZWL 359.052318
SSP 6406.340367
MXV 2.33632
  • CMSD

    -0.1200

    19.81

    -0.61%

  • JRI

    0.0000

    10.77

    0%

  • BCC

    -1.8200

    74.15

    -2.45%

  • CMSC

    -0.2228

    19.53

    -1.14%

  • BCE

    0.2000

    20.34

    +0.98%

  • RIO

    0.0100

    94.17

    +0.01%

  • AZN

    -2.7400

    161.47

    -1.7%

  • GSK

    -1.1800

    48.17

    -2.45%

  • RBGPF

    0.0000

    65

    0%

  • NGG

    0.8800

    75.82

    +1.16%

  • RYCEF

    -0.7300

    19.08

    -3.83%

  • BTI

    -0.4500

    54.4

    -0.83%

  • BP

    0.4700

    43.99

    +1.07%

  • RELX

    -0.0600

    33.18

    -0.18%

  • VOD

    -0.1800

    16.15

    -1.11%

Macron's domestic travails to sap European leadership
Macron's domestic travails to sap European leadership / Photo: Ludovic MARIN - POOL/AFP

Macron's domestic travails to sap European leadership

Emmanuel Macron's loss of his overall majority risks further weakening European leadership, with the French leader set to be distracted by domestic troubles even while retaining formal control over foreign policy.

Text size:

The loss of the majority in parliamentary elections Sunday represented a major personal blow for Macron as he seeks a springboard for reform after winning a second term in April.

His first presidential term from 2017 had been marked by France positioning itself as a major player on the global stage. Many observers see Macron as Europe's number one figure in the wake of Brexit and the departure of German chancellor Angela Merkel.

But the parliamentary election debacle caps a tricky period for Macron in recent weeks following his presidential triumph over the far right, which fans celebrated as a victory for the democratic centre against populism.

A heavy-handed police crackdown at the Champions League football final in Paris dented France's reputation abroad and raised questions over its ability to host events.

Macron faced accusations he did not want Ukraine to defeat Russia in its fight against the invasion, after arguing that the West should take care not to humiliate Moscow.

And while the president in theory retains full control over foreign policy, there will now be weeks of political horsetrading that will take the lustre off his reputation as an indispensable European leader.

- 'Possible weakening' -

"The results of the legislative elections affect the political credibility of the president" said Thierry Chopin, special adviser at the Institute Jacques Delors. This "has a negative impact on his influence on the European scene", he added.

"From a strictly institutional point of view, European issues remain the strong prerogative of the president.

"But if the president is prevented from carrying out structural reforms expected by European partners, this could have a negative effect," he told AFP.

A particular blow for a president who prides himself as being an anti-populist champion was the success of the far right, which under their resurgent leader Marine Le Pen now boast 89 seats in the National Assembly.

"We see trends in other member states of the European Union where a number of forces tend to destroy the EU from within", said Tara Varma of the European Council on Foreign Relations (ECFR).

Le Pen is herself eyeing control of the parliament's finance committee, and members of her National Rally (RN) could also play a role on its powerful foreign affairs committee.

"There will be a lot of business with groups that are not known for their European sympathy, it will give rise to lively exchanges," said Pascale Joanin of the Robert Schuman Foundation.

Paolo Mattera, a professor of contemporary history at the Universita Roma Tre in the Italian capital, said a change in France's foreign policy was "likely impossible" but a weakening was now "possible".

"Macron hoped to entrust domestic politics to a trusted prime minister to devote himself to international politics," Mattera said.

But Macron now risks devoting "a lot of time and energy to domestic issues, to the detriment of foreign policy", he said.

- Draghi centre stage -

Europe now finds itself short of national leaders with the charisma and political space to champion its values on the global stage.

German Chancellor Olaf Scholz has faced a difficult start to his tenure, dogged by complaints that Berlin's support for Ukraine has not been sufficient.

The vacuum gives extra prominence to Italian Prime Minister Mario Draghi, the former European Central Bank chief who, like Macron, is seen as a bulwark against populism.

Draghi accompanied the French leader and Scholz on a trip to Kyiv last week.

"The case can be made that the anti-establishment is once again on the rise, and this would of course be bad news for Draghi, who is the quintessential embodiment of the establishment," said analysts at the Policy Sonar risk consulting firm in Rome.

"On the other hand, with Macron somewhat crippled, Draghi gains centre stage at EU level in the months to come," they said.

(B.Hartmann--BBZ)