From CNBC.com…
French President Emmanuel Macron may have just won a second term in office, but political analysts believe the continued rise of the far right will cause him significant headaches over the coming years.
“The actual closeness, relative closeness of the vote and the fact that [Marine] Le Pen got over 40%, I think that’s a damning indictment on the state of French politics and perhaps actually the state of inequality and living standards across Europe,” Julian Howard, head of multi-asset solutions at asset management firm GAM, told CNBC’s “Squawk Box Europe” on Monday.
Centrist Macron obtained 58.54% of the votes on Sunday, whereas his nationalist and far-right rival Le Pen got 41.46%. Back in 2017, when the two politicians also disputed the second round of the French presidential vote, Macron won with 66.1% versus Le Pen’s 33.9%.
Addressing her supporters in Paris on Sunday night, Le Pen conceded defeat but said, “We have nevertheless been victorious.”
