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Tag: Jean-Marie Le Pen

  • AP mapping shows France’s poorest regions backing Le Pen’s party as support for Macron wanes

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    PARIS (AP) — The date was May 7, 2017. Addressing cheering supporters, the newly elected leader of France, Emmanuel Macron, made a promise that now, in his waning 18 months as president, lies in tatters.

    The rival that Macron defeated that day, Marine Le Pen, had secured 10,638,475 votes. They were nowhere near enough for the far-right leader to win. But they were too numerous for Macron to ignore, a best-ever watershed at the ballot box for Le Pen’s once-ostracized National Front party that she inherited from her Holocaust-denying father.

    Gazing out over a sea of French flags, Macron acknowledged “anger” and “distress” that he said motivated Le Pen voters. He pledged to do everything to win them over, “so they no longer have any reason to vote for the extremes.”

    But since then, Le Pen’s us-against-them nativist politics targeting immigrants, Muslims and the European Union have made millions more converts. Her National Rally party, rebranded in 2018 to broaden its appeal and shed its sulfurous links to her dad, Jean-Marie Le Pen, has become the largest in parliament and has never appeared closer to power, with the next presidential and legislative elections scheduled in 2027.

    Poverty worsened under Macron

    Many factors explain why Le Pen has gone from strength to strength. Some are intrinsic: The 57-year-old cat-loving mother of three is more polished and popular than her gruff ex-paratrooper father who had multiple convictions for inciting racial hatred and for downplaying Nazi atrocities in World War II. He died in January.

    Others are external and include voter disgruntlement over wealth inequality that has worsened significantly under Macron.

    An additional 1.2 million people have fallen below the poverty threshold in the world’s seventh-largest economy since the 2017 election and 2022 reelection of France’s pro-business president.

    The former investment banker slashed business taxes and watered down a wealth tax to boost France’s allure for investment. Left-wing critics labeled Macron “president of the rich.”

    The poverty rate was 13.8% when Macron took power and had barely shifted during the previous presidency of François Hollande, a Socialist.

    By 2023, into Macron’s second term and the most recent year with official data from the French national statistics agency, the poverty rate had ballooned to 15.4%, which is its highest level in nearly 30 years of measurements.

    The following year, National Rally triumphed in French voting for the European Parliament. So heavy was the defeat for his centrist camp that Macron stunned France by then dissolving the National Assembly.

    Again, National Rally surged in the ensuing legislative election. It didn’t come close to winning a majority — no party did. But with 123 of the 577 lawmakers, National Rally vaulted past all other parties and surpassed its previous best of 89 legislators elected in 2022.

    Put bluntly: the worse off France becomes, the better National Rally seems to fare.

    Showing the correlation

    Mapping by The Associated Press both of poverty in France and of the Le Pen vote in the four French legislative elections since she took over her father’s party in 2011 show how both have grown.

    The maps show particularly evident progress by National Rally in some of France’s poorest regions, especially in what have become National Rally strongholds: the deindustrialized northeast of France and along its Mediterranean coast.

    Region-by-region poverty rates were mapped through 2021, beyond which the national statistics agency INSEE doesn’t have data for all 96 of mainland France’s regions. The AP mapped support for the National Front and then National Rally by using the party’s showing in the first rounds of voting in legislative elections in 2012, 2017, 2022 and 2024.

    “We clearly see that the National Rally vote is very strongly correlated with issues of poverty, of difficulties with social mobility” and with voters “who are most pessimistic about the future of their children or their personal situation,” said Luc Rouban, a senior researcher at Paris’ elite Sciences Po school of political sciences who studies the party.

    François Ouzilleau, who stood for Macron’s party in the 2022 legislative election and lost to a National Rally winner in his district in Normandy west of Paris, puts it more simply.

    “It feeds off anger and people’s problems,” he said.

    Parallels with Trump are apparent

    But poverty is only part of the Le Pen success story and her appeal isn’t limited to voters who struggle to make ends meet. Combating immigration, the party’s bread and butter since its foundation, remains a central plank of Le Pen-ism.

    Rouban sees National Rally similarities with the playbook of U.S. President Donald Trump.

    “They’re doing Trump-ism à la française,” he said. “They say, ‘We’re wary of the justice system,’ like Trump. ‘We’re taking back control of our national borders,’ like Trump.”

    National Rally establishes strongholds

    The party says that its proposals to slash France’s spending on migrants and on the EU and to redirect money to people’s pockets by reducing the costs of energy and other necessities appeal to voters in financial need.

    “The French have clearly understood that the ones defending the purchasing power of the working and middle classes are the National Rally,” Laure Lavalette, a parliamentary spokesperson for the party, told the AP.

    Lavalette represents the southern Var region, one of National Rally’s new strongholds as Macron’s popularity has plummeted.

    In legislative elections that followed his election in 2017, Le Pen’s party failed to win any seats in Var. But after Macron’s reelection in 2022, National Rally grabbed seven of Var’s eight seats and repeated that feat in 2024.

    Poverty rates in the Var have long surpassed the national average, the AP’s mapping shows.

    Lavalette says that making ends meet is “crazy difficult” for some of her constituents and that “some tell me that they have to chose between eating or heating.”

    Voters hunger for change

    The 2024 legislative election produced a fractured parliament with fragile minority governments collapsing one after the other. To untangle that knot, Macron could have dissolved the National Assembly again this year, triggering a new election.

    That is what National Rally wanted, buoyed by polls suggesting it could perhaps win enough seats to form its first government.

    Mindful that such an outcome could saddle him with a National Rally prime minister for the remainder of his presidency, Macron held his fire.

    And for now at least, enough lawmakers have rallied around Macron’s prime minister, Sébastien Lecornu, to keep him afloat, mindful of the risk of losing their seats if Macron called voters back to the ballot boxes.

    “There’s a sword of Damocles hanging over us, it’s called the National Rally,” said Ouzilleau, who serves as mayor in the Normandy town of Vernon and is a long-time friend of Lecornu.

    He says voters have increasingly been telling him that they are ready to test-drive National Rally, breaking decades of uninterrupted rule by mainstream parties.

    “It’s been two or three years that we’ve been hearing this: ‘We’ve tried everything except the National Rally, so what is the risk?’” he said.

    ___

    William Jarrett reported from London.

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  • CNBC Daily Open: U.S. seeks Boeing guilty plea

    CNBC Daily Open: U.S. seeks Boeing guilty plea

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    The Dow Jones Industrial Average rose about 3.8% in the first six months of the year, lagging way behind the Nasdaq, up 18.1%, and the S&P 500, which jumped 14.5% — as investors plowed into artificial intelligence-related stocks.

    Brendan Mcdermid | Reuters

    This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

    What you need to know today

    Dow lags tech rally 
    The
    Dow Jones Industrial Average rose about 3.8% in the first six months of the year, lagging way behind the Nasdaq, up 18.1%, and the S&P 500, which jumped 14.5% as investors plowed into artificial intelligence-related stocks. On Friday, the S&P 500 and Nasdaq hit record highs before pulling back. The yield on the 10-year Treasury rose as investors digested the latest inflation data. U.S. oil prices rose for the third straight week amid fears of a war between Israel and the Iran-backed militia Hezbollah.

    Boeing ‘guilty plea’ 
    U.S. prosecutors plan to seek a guilty plea from Boeing over a charge related to two fatal 737 Max crashes in 2018 and 2019, attorneys for the victims’ family members said. The Justice Department is reviewing whether Boeing violated a 2021 settlement that shielded the company from federal charges. Boeing agreed then to pay a $2.5 billion penalty for a conspiracy charge tied to the crashes. The DOJ revisited the agreement after a door panel blew out of a new 737 Max 9 in January, sparking a new safety crisis.

    Under fire
    Nike CEO John Donahoe faces growing discontent as the company’s stock plummeted 20% on Friday, its worst day since 1980, after forecasting a significant decline in sales. As Wall Street digested the dismal outlook from the world’s largest sportswear company, at least six investment banks downgraded Nike’s stock. Analysts at Morgan Stanley and Stifel took it a step further, specifically calling the company’s management into question.

    Bitcoin windfall
    Mt. Gox, a bankrupt Japanese bitcoin exchange, is set to repay creditors nearly $9 billion worth of Bitcoin following a 2011 hack. The court-appointed trustee overseeing the exchange’s bankruptcy proceedings said distributions to the firm’s roughly 20,000 creditors would begin this month. The payout is likely to be a windfall for those who waited a decade, with Bitcoin’s value surging from around $600 in 2014 to over $60,000 today. One claimant, Gregory Greene, could potentially receive $2.5 million for his $25,000 investment.

    Inflation cooling
    A key inflation measure, watched closely by the Federal Reserve, slowed to its lowest annual rate in over three years in May, with the core personal consumption expenditures price index rising 2.6% from a year ago. “This is just additional news that monetary policy is working, inflation is gradually cooling,” San Francisco Fed President Mary Daly told CNBC’s Andrew Ross Sorkin during a “Squawk Box” interview. “That’s a relief for businesses and households who have been struggling with persistently high inflation. It’s good news for how policy is working.”

    [PRO] Rally will broaden
    The tech sector has driven market performance in 2024, with the S&P 500 tech group up 28% and Nvidia soaring 149%, while small-caps have lagged. Oppenheimer’s chief market strategist John Stoltzfus believes the rally will broaden. CNBC’s Lisa Kailai Han looks at the reasons behind his call

    The bottom line

    The New York Times editorial board has lost faith in President Joe Biden, calling for him to step aside. Iranians will need another go at electing a new president, French voters cast their votes in the first round of snap elections that saw big gains for Marie Le Pen's far-right party and Brits will go to the polls on Thursday.

    It's a busy political environment for markets to navigate. Wall Street has shown remarkable resilience thanks to the AI-powered rally in the first half of the year, which has seen the Nasdaq soar 18% so far. Nvidia is up almost 150%. There could be more to come; Bank of America believes Nvidia and Apple could still deliver "superior returns."

    While one of the biggest bulls on the Street expects the rally to broaden away from the megacaps, Wall Street wasn't feeling any love for Nike's CEO. The company had its worst day of trading since its IPO in December 1980, losing $28 billion in market cap on Friday after slashing its sales forecasts.

    John Donahoe was brought in from eBay to transform the athletic apparel giant's digital channels. The company ditched its retail partners, became too dependent on its aging sneaker ranges and lost ground to new contenders Hoka and On. It'll certainly make an interesting case study for MBA programs for all the wrong reasons. As Wall Street questioned Donahoe's position, he still had the approval of its founder.

    Friday also saw the Fed's favored inflation measure come in line with expectations, raising the prospect of interest rate cuts later this year.

    "I really think the Fed should tee up a cut at the July 31 meeting, confirm it at Jackson Hole in August and do it in September," Wharton finance professor Jeremy Siegel told CNBC's "Squawk on the Street." He added that one or maybe one-and-a-half rate cuts have already been priced in.

    "I actually think there will be more because there might be a little bit more softness in the economy and better inflation numbers, both of those feeding better rates," he continued. Siegel also said it is "hard to say" where the bull market's trajectory currently stands.

    In a four-day trading week — markets are closed for the July 4 Independence Day holiday — the big economic number to watch is the June jobless data on Friday. CNBC's Sarah Min has more on what to expect.

     — CNBC's Lisa Kailai Han, Yun Li, Jeff Cox, Leslie Josephs, Gabrielle Fonrouge, Hakyung Kim, Brian Evans, Spencer Kimball, Ryan Browne and MacKenzie Sigalos contributed to this report.

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  • After Macron, le déluge

    After Macron, le déluge

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    Anyone looking at France right now could be forgiven for thinking the country was on the edge of a revolution.

    Major cities from Paris to Lyon erupted in riots overnight on Thursday, with black-clad protesters lighting bonfires and hurling projectiles at riot police after President Emmanuel Macron rammed an unpopular reform of the pension system through parliament. More than 400 police were injured.

    The violence capped weeks of mass protests as millions marched through French cities to oppose the reform, which will raise the legal age of retirement to 64 from 62 currently. More protests are already planned for next week, piling pressure on Macron’s already embattled government and prompting Britain’s King Charles to cancel a highly-awaited visit.

    Yet for all the sound and fury of the protests, which could yet worsen if students join in, there’s nearly zero risk that Macron himself will have to leave office. Having narrowly survived a vote of no confidence, he may seek to reshuffle his cabinet and sack his prime minister, Élisabeth Borne — but the presidential system is so designed that the leader is nearly guaranteed to remain president until the last day of his term, in 2027.

    The bigger question, then, is about what happens after Macron, whose hyper-personal style of leadership has often been described as king-like, even by the standards of France’s monarchical Republic, leaves the stage for good. 

    Barred from seeking a third term by the constitution, Macron will leave behind a leaderless and rudderless ruling party that may well cease to exist without him, creating a power vacuum that far-left and far-right leaders, including three-time presidential contender Marine Le Pen, are itching to fill. 

    And while Macron has a solid hold on power now, the parliamentary rebellion his government faced down this week — and the chaos engulfing the country — raise ominous questions about the future for anyone who hopes to see France stay firmly anchored to the pro-EU, pro-NATO liberal camp.

    In other words, after Macron, le déluge

    Macron’s shaky platform

    The first danger sign flashing over French democracy is the state of Macron’s own party, the centrist Renaissance group. In many systems, ruling parties have deep roots and an ideological foundation that, at least in theory, give them a raison d’être beyond exercising power. 

    But this isn’t the case for Macron’s party, which was born for the sole purpose of hoisting its founder into the Elysée presidential palace and then supporting his government. As such, it’s docile by nature and, with a few exceptions, hasn’t produced bold personalities who would in other circumstances be natural successors to the president. 

    And while the party is already short of a majority in parliament, the rebellion against the pension reform this week revealed Renaissance to be much weaker even than was previously thought — more of a hollow platform for Macron to stand on than a launchpad for future leaders. Indeed, Prime Minister Borne believed that she could rely on support from the center-right Les Républicains party to provide the necessary votes to pass the reform, as part of an informal coalition arrangement.

    Yet this hope vanished suddenly and unexpectedly when a group of 19 Les Républicains, led by southern lawmaker Aurélien Pradié, defied orders from their own party leadership and announced they would support a motion of no confidence in Macron’s government. As rebellions go, it revealed not just the weakness of Renaissance, but the continued disarray of the mainstream center-right in France — which has produced most of the country’s leaders since World War II and is now a shadow of its former self.

    “The political landscape isn’t just fractured; it doesn’t offer any hope for the president, the government or their supporters,” said Jean-Daniel Lévy, a political analyst with pollster Harris Interactive. “There is no such thing as a Macron doctrine or an ideological successor to Macron.”

    The rebellion against the pension reform this week revealed President Emmanuel Macron’s party to be much weaker even than was previously thought | John Macdougall/AFP via Getty Images

    The second alarm bell ringing is how much the pension crisis has emboldened the far-right and far-left factions in parliament. Take Jean-Luc Mélenchon, a far-left firebrand who’s made two failed bids for the presidency, and is now the most recognizable face in the NUPES, a recently-formed left-wing coalition gathering what’s left of the Socialist party, Mélenchon’s hard-left France Unbowed group and the Greens.

    Having faded from view, Mélenchon has roared back into the limelight during the pension reform battle, appearing constantly in the media. Anti-NATO, Euroskeptic and calling for an end to France’s 5th republic (his 6th Republic would end the presidential monarchy), the ex-socialist whose sympathies lean more toward Venezuela than Brussels is ideally suited to produce revolutionary soundbites.

    With his pension reform, Macron has “lit a fire and blocked all the exits,” Mélenchon quipped this week.

    Le Pen eyes the crown

    Yet Mélenchon’s prospects of taking power in 2027 look slim. According to an IFOP poll published in early March, just 21 percent of the French believe he’s best-positioned to lead the opposition — suggesting he’s not very well-loved by other adherents of the NUPES coalition.

    Much better positioned is Marine Le Pen, the far-right chief whom Macron defeated twice in the final rounds of two presidential elections. Indeed, since her last defeat, Le Pen has made further strides toward making herself look presidential while continuing to try to detoxify her party’s image.

    Not only has Le Pen ditched the “National Front” party name that was associated with her Holocaust-minimizing father, Jean-Marie Le Pen; she has abandoned an electorally-disastrous plan to exit the euro currency zone and she’s established herself as the leader of her party’s 88-strong delegation in the French parliament, placing her at the center of the action against the pension reform.

    She hasn’t confirmed that she’ll make a fourth bid for the presidency. But there’s no reason to believe she wouldn’t. And this time, Macron won’t be around to stop her.

    “After Macron, it will be us,” she told BFMTV this week, referring to her National Rally party.

    Aside from Le Pen, the obvious choice to succeed Macron would be Édouard Philippe — his remarkably beloved one-time prime minister. Since leaving office in 2017, Philippe has been quietly biding his time as mayor of Le Havre, a mid-sized port city on France’s northern coast, and nurturing his own center-right political platform, Horizons.

    The fact that Philippe, in an interview earlier this month, came out to address the fact that he’s suffering both from alopecia and vitiligo only seemed to bolster his popularity with the French, who rate him as their preferred political personality, according to this ranking.

    But Philippe’s stance on retirement, backing an increase in the legal age to 67 — above and beyond what Macron proposed — has not done him any favors. According to a poll by Odoxa, 61 percent of the French weren’t happy with his attempt to defend the pension reform.

    He still hasn’t said for sure whether he will run in 2027, and the past week’s action suggests his association with Macron could turn out to be a drag on his prospects once campaigning gets started, should he decide to enter the race.

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    Nicholas Vinocur

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