{"id":94965,"date":"2017-06-19T17:14:02","date_gmt":"2017-06-19T15:14:02","guid":{"rendered":"http:\/\/www.arabtelegraph.com\/?p=94965"},"modified":"2017-06-19T17:14:02","modified_gmt":"2017-06-19T15:14:02","slug":"real-victory-will-be-in-five-years-says-macron-camp-after-election-win","status":"publish","type":"post","link":"https:\/\/www.arabtelegraph.com\/?p=94965","title":{"rendered":"Real victory will be in five years, says Macron camp after election win"},"content":{"rendered":"<p dir=\"ltr\"><strong>President Emmanuel Macron&#8217;s government on Monday promised to reshape France&#8217;s political landscape as final results showed he had won the commanding parliamentary majority he wanted to push through far-reaching pro-growth reforms.<\/strong><\/p>\n<p dir=\"ltr\">Macron&#8217;s centrist Republic on the Move (LREM) party and its centre-right Modem ally won 350 out of 577 seats in the lower house, after a record low turnout for a parliamentary ballot in the postwar Fifth Republic.<\/p>\n<p dir=\"ltr\">Government spokesman Christophe Castaner said the high abstention rate &#8212; more than 50 percent of voters stayed at home &#8212; was a failure for the political class and highlighted the need to change politics in France.<\/p>\n<p dir=\"ltr\">&#8220;The real victory wasn&#8217;t last night, it will be in five years&#8217; time when we have really changed things,&#8221; Castaner told RTL radio.<\/p>\n<p dir=\"ltr\">Though lower than forecast by pollsters, Macron&#8217;s majority swept aside France&#8217;s main traditional parties, humiliating the Socialist and conservative The Republicans party that had alternated in power for decades.<\/p>\n<p dir=\"ltr\">&#8220;Victory for the Centre&#8221; read the headline of the left-leaning Liberation newspaper. Financial paper Les Echos&#8217; banner read &#8220;The Successful Gamble&#8221;.<\/p>\n<p dir=\"ltr\">Castaner said Prime Minister Edouard Philippe and his government would resign later in the day and a new cabinet be formed in coming days. He said he believed Philippe would be reappointed premier.<\/p>\n<p dir=\"ltr\">Investors welcomed Macron&#8217;s win, with the gap between French and German bond yields holding near its tightest level in seven months.<\/p>\n<p dir=\"ltr\">&#8220;After the reforms, which we expect Macron to implement, France could turn into the strongest of all major economies in Europe in the next decade, outclassing a Germany that is resting on its laurels and a UK that (through Brexit) is impairing its long-term growth prospects,&#8221; said Holger Schmieding, chief economist at German bank Berenberg.<\/p>\n<figure id=\"attachment_94970\" aria-describedby=\"caption-attachment-94970\" style=\"width: 300px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2017\/06\/download-463.jpg\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-medium wp-image-94970\" src=\"https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2017\/06\/download-463-300x200.jpg\" alt=\"French President Emmanuel Macron attends a ceremony marking the 77th anniversary of late French General Charles de Gaulle's resistance call \" width=\"300\" height=\"200\" srcset=\"https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2017\/06\/download-463-300x200.jpg 300w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2017\/06\/download-463.jpg 450w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-94970\" class=\"wp-caption-text\">French President Emmanuel Macron attends a ceremony marking the 77th anniversary of late French General Charles de Gaulle&#8217;s resistance call<\/figcaption><\/figure>\n<p dir=\"ltr\"><strong>BUDGET CONSTRAINTS<\/strong><\/p>\n<p dir=\"ltr\"><strong>Macron wants to move quickly on relaxing labour regulations before overhauling France&#8217;s unwieldy pension system next year.<\/strong><\/p>\n<p dir=\"ltr\">During the presidential campaign he also promised to cut corporate tax to 25 percent from 33 percent and make a 50 billion public investment in energy, vocational training and transport infrastructure.<\/p>\n<p dir=\"ltr\">But he will need to be mindful of the country&#8217;s budget deficit, which the Bank of France forecasts will once again breach the EU cap of 3 percent of national income this year.<\/p>\n<p dir=\"ltr\">&#8220;It is in France&#8217;s interests, its political credibility, its economic credibility, to conform with its obligations,&#8221; Pierre Moscovici, the EU&#8217;s French commissioner for economic and financial affairs told TV channel Public Senat.<\/p>\n<p dir=\"ltr\">Sunday&#8217;s high abstention rate means Macron will also have to tread carefully with reforms in a country with muscular trade unions and a history of street protests that have forced many a government to dilute new legislation.<\/p>\n<p dir=\"ltr\">But with his twin victories in last month&#8217;s presidential election and Sunday&#8217;s parliamentary vote, he has routed the old political class.<\/p>\n<p dir=\"ltr\">France&#8217;s youngest leader since Napoleon and having never before held elected office, Macron has seized on the growing resentment towards a political elite perceived as out of touch, and on public frustration at its failure to create jobs and spur stronger growth, to win the presidency.<span id=\"midArticle_byline\"><\/span><\/p>\n<p dir=\"ltr\">In winning the presidency in May, he filled a political vacuum created by disarray within the Socialist Party and the Republicans, with Sunday night capping a sequence of events that looked improbable a year ago.<\/p>\n<p dir=\"ltr\">The Republicans and their conservative allies will form the largest opposition bloc in parliament with 131 seats, while the far-right National Front won eight. The Socialist Party and allies won just 44, their lowest in decades.<\/p>\n<p dir=\"ltr\">&#8220;The collapse of the Socialist Party is beyond doubt. The president of the Republic has all the powers,&#8221; Jean-Christophe Cambadelis said late on Sunday after announcing he would step down as party chief.<\/p>\n<p dir=\"ltr\">Sunday&#8217;s election saw a record number of women voted into parliament, due largely to Macron&#8217;s decision to field a gender-balanced candidate list.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Emmanuel Macron&#8217;s government on Monday promised to reshape France&#8217;s political landscape as final results showed he had won the commanding parliamentary majority he wanted to push through far-reaching pro-growth reforms. Macron&#8217;s centrist Republic on the Move (LREM) party and its centre-right Modem ally won 350 out of 577 seats in the lower house, after &hellip;<\/p>\n","protected":false},"author":3,"featured_media":94971,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-94965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-te-public"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Real victory will be in five years, says Macron camp after election win - Arab Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.arabtelegraph.com\/?p=94965\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Real victory will be in five years, says Macron camp after election win - Arab Telegraph\" \/>\n<meta property=\"og:description\" content=\"President Emmanuel Macron&#8217;s government on Monday promised to reshape France&#8217;s political landscape as final results showed he had won the commanding parliamentary majority he wanted to push through far-reaching pro-growth reforms. 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