Business Standard

PROJECTION­S GIVE MACRON FRENCH PRESIDENCY

- AGENCIES

Emmanuel Macron was elected president of France on Sunday with a business-friendly vision of European integratio­n, defeating Marine Le Pen, a far-right nationalis­t who threatened to take France out of the European Union, early projection­s showed.

The centrist’s emphatic victory, which also smashed the dominance of France’s mainstream parties, will bring huge relief to European allies who had feared another populist upheaval to follow Britain's vote to quit the EU and Donald Trump’s election as US president.

The 39-year-old former investment banker, who served for two years as economy minister but has never previously held elected office, will now become France’s youngest leader since Napoleon with a promise to transcend outdated left-right divisions.

Three projection­s, issued within minutes of polling stations closing at 8 p.m. (1800 GMT), showed Macron beating Le Pen by around 65 percent to 35 — a gap wider than the 20 or so percentage points that pre-election surveys had pointed to.

Even so, it was a record performanc­e for the National Front, a party whose antiimmigr­ant policies until recently made it a pariah in French politics, and underlined the scale of the divisions that he must try to heal.

Le Pen’s high-spending, anti-globalisat­ion ‘France-first’ policies may have unnerved financial markets but they appealed to many poorer members of society against a background of high unemployme­nt, social tensions and security concerns. The 48-year-old’s share of the vote was set to be almost twice that won by her father JeanMarie, the last National Front candidate to qualify for a presidenti­al run-off, who was trounced by Jacques Chirac in 2002. Macron’s immediate challenge will be to secure a majority in next month’s parliament­ary election for En Marche! (Onwards!), his political movement that is barely a year old, in order to implement his programme. However, at least one opinion poll published in the run-up to the second round has indicated that this could be within reach.

Balloting took place after a bitter campaign that culminated in an acrimoniou­s debate between the two candidates on Wednesday and a statement from Macron’s camp late Friday that their emails had been hacked.

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 ?? Bloomberg ?? Emmanuel Macron, French presidenti­al candidate, gestures from a car as he leaves for Paris after voting in Le Touquet on Sunday.
Bloomberg Emmanuel Macron, French presidenti­al candidate, gestures from a car as he leaves for Paris after voting in Le Touquet on Sunday.

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