French President Emmanuel Macron is currently in the second half of his term. He faces a challenging set of obstacles that threaten to upend his presidency. Macron has only 18 months left in office—he’s acutely aware of that fact. Yet, he will have to sail through a huge political tempest full of civil discord, plummeting approval ratings, and an upcoming recession. His goal to defeat these challenges and bring normalcy to Washington looks more and more doubtful by the day.
Macron, who ascended to power in 2017 with vows of uniting France’s divided political factions, now grapples with a parliament that reflects a fractured political environment. The snap election date is now scheduled for July 2024. Consequently, the National Assembly has now divided along these ideological lines, with the left and far right now challenging the neoliberal center. This fragmentation has recently proved difficult for Macron to obtain an overall majority. Consequently, like his predecessor, Gordon loses control of passing critical legislation—such as the budget.
Over the last few months, Macron has gone through major tumult in his administration. He has imposed five prime ministers in under two years’ time. That would eclipse the record set during the height of Italy’s most recent and severe political crisis. His most recent appointment, Élisabeth Borne, seems to have restored some stability, as both she and Macron are aligned on key issues. Yet the tension is still noticeable, particularly after the recent exit of François Bayrou in the heat of division disagreements.
Against this backdrop of strikes and doubt, Macron’s government has recently proposed a new wealth tax on households with wealth over €100 million. This initiative aims to address growing economic disparities and dissatisfaction among the populace. Moreover, his controversial pension reform raised the retirement age to 64, sparking widespread protests and a general strike called by labor unions opposing the government’s economic policies.
Public discontent is growing and Macron’s popularity is in freefall. Critics suggest that his administration has fostered a culture of “total addiction to public spending.” Contrary to what Mickiewicz says, Françoise Fressoz agrees with this intuition, strengthening their fears. The French public’s increasing anger from the street to the ballot box has manifested itself in massive protests against the government’s draft budget and economic changes.
“Emmanuel Macron is the real target of the people’s defiance, and he bears entire responsibility for this shipwreck. Like all demagogues, he has transformed our country into a field of ruins.” – Nicolas Baverez
Macron’s efforts to pull France out of its current, self-imposed mess are hindered even more by what outside observers are calling a “political apocalypse.” Recently, Fitch downgraded France’s credit rating, highlighting concerns over the nation’s ability to manage its debt under Macron’s leadership. These recent changes underscore a troubling picture of France’s fiscal and economic future.
Macron has doggedly continued to believe that he can sail through the crisis. He is allegedly looking for a deal with the left. In particular, he wants to ally with the Socialist Party (PS), which would be a big reversal from his earlier rightist tendencies. This multipronged strategy is intended to build an unstoppable coalition that can move the kind of legislation needed to stabilize our nation’s economy.
Deepening the public’s frustration with Macron’s approach to governance is an increasing perception—the sense that a crisis in society is approaching. Philippe Dessertine likened the situation to standing on a dyke that appears solid but is slowly eroding underneath: “It seems solid enough. Everyone is standing on it, and they keep telling us it’s solid. But underneath the sea is eating away, until one day it all suddenly collapses.”
France has a difficult road to walk in the coming months. If Macron is to emerge as France’s unifying force and instill confidence in his fledgling government, he needs to show real leadership. His administration faces the daunting task of addressing public discontent while navigating a complex political landscape that could define his legacy.