French elections causing unease among German industrial sector
The upcoming French parliamentary election on next Sunday has the German industry sweating. If President Emmanuel Macron teams up with a leader from a different political faction after that, it could muddy the waters, warned BDI-President Siegfried Russwurm on the sidelines of the Industry Day (TDI).
"A French power-sharing arrangement - no matter what shape it takes - doesn't make decisions in France any easier." France plays a significant role in the European context. "The risk is that significant changes in European politics could be further complicated by this."
Russwurm made it clear that he wasn't making any specific predictions about the outcome of the French election. The BDI-President also refrained from discussing potential repercussions if Marine Le Pen and her right-wing National Rally (RN) emerged victorious. Chancellor Olaf Scholz has voiced worries about this. He hoped that neither Le Pen and the RN would win, Scholz told ARD.
Macron dissolved parliament and ordered new elections due to heavy losses for his liberal party Renaissance in the European elections. The elections are scheduled for June 30 and July 7. According to an Ipsos poll of voters, the RN and its allies are polling at 35.5 percent a week before the election, while the left-wing coalition People's Front is at 29.5 percent. Macron's alliance Ensemble with his party Renaissance is therefore in third place with 19.5 percent.
If the RN wins, Macron would still be President for three more years and could exert his influence on defense and foreign policy. However, he would lose grip over the domestic political agenda - for instance, in economic policy, security, immigration, and finances.
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The German industry is particularly concerned about the potential complexities that a power-sharing arrangement in France could bring, given its significant role in the European context. Should Marine Le Pen's right-wing National Rally (RN) emerge victorious in the French elections, the location of several key German industries in France could become a source of complications, as Le Pen has expressed skepticism towards German companies operating in France. The choice of political alliances in France could have far-reaching implications for the intricate web of interdependent industries across Europe.
