# In troubled France, no honeymoon for re-elected Macron
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-04-25
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Macron faces uphill battle after re-election
Meta Description: Follow Emmanuel Macron's journey through mounting opposition, social discontent, and reform plans in his second term as President of France.
URL: https://financedigest.com/in-troubled-france-no-honeymoon-for-re-elected-macronhtml

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By Michel Rose

PARIS (Reuters) -Now comes the hard part.

Emmanuel Macron may have seen off far-right leader Marine Le Pen, but his second term could be even rockier than the first with mounting political opposition and boiling social discontent.

As his supporters savoured a hard-earned re-election at a rally by the [Eiffel Tower](https://www.financedigest.com/in-france-eiffel-tower-goes-dark-in-tribute-to-queen-elizabeth.html "In France, Eiffel Tower goes dark in tribute to Queen Elizabeth") on Sunday, Macron acknowledged in his victory speech that many people who voted for him did so to block Le Pen and not because they support his ideas.

“No one will be left by the wayside,” Macron said, flanked by his wife Brigitte.

This next [era will not be the same as the last](https://www.financedigest.com/end-of-an-era-airbus-delivers-last-a380-superjumbo.html "End of an era: Airbus delivers last A380 superjumbo") mandate, we will invent a new way of doing things together, for a better five years.

The next hurdle is only a few weeks ahead. Parliamentary elections in June will define the make-up of the government [Macron must rely on to see through reform](https://www.financedigest.com/macron-warns-of-more-healthcare-woes-as-he-flags-reforms.html "Macron warns of more healthcare woes as he flags reforms") plans that would be an unprecedented shake-up of France’s welfare state.

Newly elected presidents can usually expect to get a majority in parliament whenever legislative elections directly follow the [presidential vote](https://www.financedigest.com/cyprus-politician-christodoulides-wins-presidential-vote.html "Cyprus politician Christodoulides wins presidential vote") because of the generally low turnout among supporters of all the defeated candidates.

However, in her concession speech, Le Pen sounded defiant, [promising a strong](https://www.financedigest.com/aventus-protocol-availability-promises-strong-ticketing-blockchain-standard.html "Aventus Protocol Availability Promises Strong Ticketing Blockchain Standard") opposition bloc in parliament. While hard-left Jean-Luc Melenchon has his mind set on becoming [prime minister](https://www.financedigest.com/economist-odor-picked-as-slovakias-caretaker-prime-minister.html "Economist Odor picked as Slovakia’s caretaker prime minister") after securing the bulk of the left-wing vote in the first round.

Melenchon hopes to carry that momentum into the parliamentary [elections and force Macron](https://www.financedigest.com/macron-le-pen-clash-over-cost-of-living-in-french-election-debate.html "Macron, Le Pen clash over cost of living in French election debate") into an awkward and stalemate-prone “cohabitation” with him in charge of a left-wing majority.

Even if Macron allies do get a majority or a workable coalition pact, he will also have to deal with resistance in the streets to his reform plans, notably a [pension reform](https://www.financedigest.com/factbox-whats-next-for-frances-pension-reform.html "Factbox-What’s next for France’s pension reform?") that would gradually raise the minimum age to 65 from 62.

‘LAME DUCK’

Pensions are always a hot [issue in France and Macron’s lower](https://www.financedigest.com/ford-posts-lower-profit-issues-downbeat-outlook-shares-drop.html "Ford posts lower profit, issues downbeat outlook; shares drop") score against Le Pen compared to 2017 means he won’t have the same authority to implement reforms he had five years ago, despite becoming the only French president to be re-elected in two decades.

“His election is a choice by default. He [risks being a lame duck faced](https://www.financedigest.com/euro-zone-economy-faces-growing-risk-of-recession-survey-shows.html "Euro zone economy faces growing risk of recession, survey shows") with major social discontent if he wants to implement sensitive reforms such as for pensions,” Christopher Dembik, an economist for Saxo Bank, told Reuters.

In a possible sign of the trouble ahead, he was repeatedly admonished by angry voters about the pension reform on the campaign trail, forcing him to concede a possible cap at 64.

Philippe Martinez, the head of the Communist-backed CGT union, one of the biggest in France, has already warned Macron that there would be “no honeymoon” for him and he could expect demonstrations if he did not back down entirely.

Another volatile issue to [deal with in the immediate aftermath of the election will be skyrocketing energy](https://www.financedigest.com/siemens-energy-signs-7-billion-eur-offshore-power-deal-with-tennet.html "Siemens Energy signs 7-billion-eur offshore power deal with TenneT") prices.

Macron’s government has capped electricity prices and [offered discounts](https://www.financedigest.com/discount-dining-clubs-tastecard-and-gourmet-society-grow-their-offering-as-chimichanga-and-spaghetti-house-both-sign-up.html "Discount dining clubs tastecard and Gourmet Society grow their offering as Chimichanga and Spaghetti House both sign up") on prices at the pump until after the election. He said during the campaign he would shield voters for as long as necessary, but offered no timeline.

What is clear is that the [costly measures will have to be lifted](https://www.financedigest.com/dulux-maker-akzo-nobel-lifts-outlook-on-easing-raw-material-costs.html "Dulux maker Akzo Nobel lifts outlook on easing raw material costs") at some point. Meanwhile, lawmakers [say constituents are already complaining about the soaring price](https://www.financedigest.com/uk-house-prices-stabilise-after-four-month-fall-halifax-says.html "UK house prices stabilise after four-month fall, Halifax says") of all sorts of staples, such as Ukraine-made sunflower oil or rice and bread.

In 2018, rising pump [prices triggered France’s](https://www.financedigest.com/france-leans-on-retailers-to-help-consumers-cope-with-food-prices.html "France leans on retailers to help consumers cope with food prices") worst social unrest since the 1968 students revolt with the “yellow vest” rebellion that caused months of disruption in Paris and roundabouts across France.

Macron will therefore have to tread carefully if he doesn’t want the tinderbox to explode again.

His first [term has been littered with PR gaffes that made him come across](https://www.financedigest.com/rci-bank-increases-rates-across-fixed-term-accounts.html "Rci Bank Increases Rates Across Fixed Term Accounts") as arrogant or patronising. Many French detest him: one man on the campaign trail told him to his [face he was “the worst](https://www.financedigest.com/europe-facing-its-worst-drought-in-500-years-study.html "Europe facing its worst drought in 500 years – study") president of the Fifth Republic.

Political allies [warn he will need to consult lawmakers](https://www.financedigest.com/digital-pound-could-hit-financial-stability-and-erode-privacy-uk-lawmakers-warn.html "Digital pound could hit financial stability and erode privacy, UK lawmakers warn"), unions and civil society more and do away with the top-down governing style of his first term which he himself loftily described as “Jupiterian.

“Emmanuel Macron got the message: You can’t decide about everything from on high, he’s not the head of a company,” lawmaker Patrick Vignal told Reuters. “He needs to accept this idea of negotiation, consultation.”

(Reporting by Michel RoseAdditional reporting by Elizabeth PineauEditing by Alexandra Hudson and Sandra Maler)


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