French Election Victory, EU Nations Relieved

EU nations breathed a sigh of relief following the victory of pro-EU Emmanuel Macron as the next French president.

Former investment banker and economy minister for the Hollande administration, Macron will be the youngest leader, at 39 years old in France and also in the current Group of Seven major nations (G7). He will become the eighth president of France’s Fifth Republic when he takes office next week-end after his inauguration.

Congratulations Pour in From Around the World

President of the European Commission, Jean-Claude Juncker congratulated Macron on his victory adding that he was delighted on his win and his ideas of defending a strong and progressive Europe.

US President Donald Trump said that he looks forward to working with him and congratulated him on his big win.

Shinzo Abe, Japan’s Prime minister congratulated him.

Macron spoke to German Chancellor, Angela Merkel adding that he planned to visit Berlin to strengthen ties within the Franco-German region.

Analyst at Berenberg Bank, Holger Schmieding said that the political risk in France has faded with signs that the euro zone economic growth will be on the upside.

Following the results the markets saw the euro gaining, hitting a six month high. Shares in Asia climbed and stocks in the US also gained.

Emmanuel Macron received 66 percent of the votes, while his rival Marine Le Penn got only 34 percent. Far right nationalist Marine Le Penn threatened to take France out of the EU, whereas Macron is business friendly and pro EU.

Challenge of Securing Votes

Macron who is seen to be orthodox in foreign and defense policy, and pro-NATO will face the challenge of securing a majority in the parliamentary election so that he can bring about the changes that he wants to implement for his programme.

Traders in France will be focusing on the political developments within their country and the effects it will have on the markets. Trading with the top internationally acclaimed Forex broker, Plus500 can realize good sound investments. Traders have a choice of over 2,000 CFD instruments of forex, commodities, indices, shares and ETFs to trade. They are authorized and regulated by a number of recognized financial institutions and offer excellent trading opportunities with lots of added value extras.

Click here to trade with Plus500!

Your capital is at risk

Leave a Reply