Snap French election 'most consequential' in decades

Parties in scramble to make alliances ahead of first round as EU reels from vote marked by major gains for the far right

- ANDY GREGORY

France's political parties are racing to discuss possible alliances after Emmanuel Macron's shock decision to call a snap election, with an ally of the president calling it the "most consequential" vote in decades.

Marine Le Pen’s far-right National Rally (RN) trounced the president’s alliance in European parliamentary elections, with 31 per cent of the vote. Mr Macron’s centrist ticket won just 15 per cent. As the European Union reeled in the wake of Sunday’s results, which saw the far right score wins in Belgium and Austria, and second-place finishes in Germany and the Netherlands, it was the fallout in France which truly set alarm bells ringing across the continent.

The euro and French stocks fell sharply as markets were spooked by Mr Macron’s decision to dissolve the French National Assembly and throw down the gauntlet to Ms Le Pen. The decision appeared to catch even those close to Mr Macron off guard, as well as his opponents. Paris mayor Anne Hidalgo, of the Socialist Party, said she was “stunned” and struggling to understand the “extremely unsettling” move by Mr Macron, who has three years left in his presidential term.