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Emmanuel Macron clinches French presidential election: Europe has their man, but they shouldn't breathe easy

French President-elect Emmanuel Macron is a former investment banker who has never held elected office. That will change this week after he is sworn in, likely on 11 May.

French President-elect Emmanuel Macron. AP

French President-elect Emmanuel Macron. AP

Macron previously served as economics minister under French President Francois Hollande and ran as an independent after forming the En Marche! party.

The French President-elect has described himself as "pro European Union and pro immigrant" and has encouraged his supporters to wave both the French tricolour and the European Union flags.

A political observer recently noted: "He seems not to have a nationalistic bone in his body."

Doubtless, European Union leaders would be relieved to hear that. They've got the man they wanted. They might be breathing easier, but they're not off the hook yet.

What's ahead for the French-Europe relationship

While Macron describes himself as being pro European Union, he is determined to implements "reforms" into the European Union, which would include having a common budget, finance minister, working together on defence and perhaps the biggest project: strengthening the Euro.

“The euro is a weak Deutsche Mark,” Macron has said. “The status quo is synonymous, in 10 years’ time, with the dismantling of the euro.”

“The truth is that we must collectively recognise that the euro is incomplete and cannot last without major reforms. It has not provided Europe with full international sovereignty against the dollar on its rules. It has not provided Europe with a natural convergence between the different member states," he added.

Macron has also said he was "wary of globalisation" as "not everyone respects the rules so we will turn the protection of European industry into one of the major pillars of reinventing the EU."

He is also determined to make Paris a rival to London when it comes to banking and finance, which will inevitably cause friction with the UK.

 


Published Date: May 08, 2017 17:41 PM | Updated Date: May 08, 2017 17:46 PM

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