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Pound V euro: GBP strengthens against EUR after Macron French election victory

19 May 2017

Split 50-50 between men and women, they'll have Macron's example for inspiration: Contesting his first election, he handily beat Le Pen with 66 per cent of Sunday's vote and tore up France's political map.

On May 7, Macron was elected French president, taking around 65 percent of the vote to Le Pen's 35 percent.

At 39, the pro-European Union former investment banker will become France's youngest-ever president after a crushing win in the run-off, but he faces a formidable challenge to enact his policy programme while trying to unite a fractured and demoralised country.

Elections for the French National Assembly will take place in June.

Politically, he was a member of the Socialist Party for three years, before becoming an independent politician in 2009.

Modi had yesterday greeted Macron for his electoral win in a tweet.

But he is nevertheless optimistic: "Macron struck the other candidates such a blow that it is not impossible".

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The Hindustan Times reported that the town which has a sizeable Telugu-speaking French population have cast at least 51 votes in favour of Macron.

After her defeat on Sunday night, Marine Le Pen hit the dancefloor on Sunday night and in extraordinary scenes emerging from her party headquarters, she was filmed getting down to I Love Rock and Roll by Joan Jett & the Blackhearts and YMCA by Village People.

Claiming a "massive" result of 10.64 million votes - a record for the FN - she promised "a profound transformation" of the party to grow its appeal.

"We need new tools", campaign director David Rachline said Monday on France Info radio.

The "two Frances" are divided geographically - one urban, more affluent and open to reform; the other, concentrated in the northern rustbelt and in disadvantaged areas of the countryside.

President-elect Macron had floated the idea of introducing a dose of proportional representation that favours smaller parties or those locked out.

Macron's main message has been his awareness of the divisions in French society.

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The news is a relief to markets as Macron's Pro-EU stance is more favourable to Euro investors than Le Pen's anti-EU attitude.

"Macron is a giant with feet of clay, elected without real desire of enthusiasm", he said.

She made it clear, however, that she now saw herself as the leader of the opposition.

If Macron's party performs poorly, he could also be forced to form a coalition, a common occurrence in many European countries but something very unusual in France.

He claims to be neither from the left nor right, but from the centre.

The head of the small, liberal FDP party, Christian Lindner, said "after 2016 was the year when populists, over-simplifiers and extremists celebrated success, 2017 is the year of the moderate forces".

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