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France's debt-to-GDP ratio by end of 2024?
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Resolution / Starting Odds
Below 100% • 33%
100%-110% • 33%
Above 110% • 33%
Data published by INSEE (French National Institute of Statistics and Economic Studies)
Story
France Prepares for High-Stakes Snap Election as Far-Right Leads with 37%
Jun 28, 2024, 01:13 PM
France is set to hold a snap parliamentary election, called by President Emmanuel Macron, which has significant implications for the country's political landscape and financial markets. Polls indicate that Marine Le Pen's far-right National Rally is leading with 37% of the vote, followed by the left-wing New Popular Front coalition at 28%, and Macron's centrist bloc at 21%. The election has heightened market volatility, with the risk premium on French debt reaching its highest level since the 2012 eurozone crisis. The yield premium over German bonds has hit a two-week high, widening to 83.8 basis points. Investors are concerned about the potential fiscal and political instability that could arise from a far-right victory, which could increase France's debt levels and impact its foreign policy. The first round of voting is scheduled for Sunday, with the second round concluding on July 7.
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